Summit Materials Announces Acquisition of LeGrand Johnson Construction Company in Utah
By Business Wire News
By Business Wire News
Summit Materials, Inc. (NYSE:SUM, “Summit” or the “Company”), a leading vertically integrated construction materials company, today announced that it has completed the acquisition of LeGrand Johnson Construction Company (“LeGrand”), a vertically integrated construction materials company based in Utah and servicing the northern and central Utah, western Wyoming and southern Idaho markets. LeGrand operates five sand & gravel pits along with four ready mix concrete plants and five asphalt plants. LeGrand will become part of Summit’s Kilgore Companies business in Utah.
Tom Hill, CEO of Summit, stated, “This acquisition is consistent with our materials-based growth strategy and is a great fit with our Kilgore business in Utah and the surrounding states. LeGrand has established many strong customer relationships and an excellent reputation for high-quality products and services over its long history. We are very pleased to welcome Legrand and its employees to Summit Materials.”
Larry Jardine, CEO of LeGrand, commented, “We are excited that this acquisition will enable our company to continue the legacy of its founders, LeGrand and LaRee Johnson, and their family members who, together with hundreds of employees over the years, have worked so hard to make the company a success.”
About Summit Materials
Summit Materials is a leading vertically integrated construction materials company that supplies aggregates, cement, ready-mixed concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, aggregates-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the residential, nonresidential, and public infrastructure end markets. Summit has completed more than 35 acquisitions since its founding and continues to pursue growth opportunities in new and existing markets.
For more information about Summit Materials, please visit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to Summit’s anticipated benefits from its acquisitions. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements may be identified by the use of words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of solely historical matters. Forward-looking statements are based on information available at the time those statements are made and/or management’s reasonable belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. A discussion of factors that may affect future results is contained in Summit’s prospectus dated March 11, 2015 filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time by Summit’s subsequent filings with the SEC. Summit does not intend, and disclaims any obligation, to publicly update or revise any forward-looking statements after the date hereof, except as required by federal securities laws.