We are advising Summit Materials on the transaction

Davis Polk is advising Summit Materials, Inc. on its acquisition by Quikrete Holdings, Inc. for $52.50 per share in cash, for a total enterprise value of $11.5 billion, including debt. The transaction is expected to close in the first half of 2025, subject to Summit Materials shareholder approval, regulatory approvals and other customary closing conditions. Summit Materials will become a privately held subsidiary of Quikrete and its common stock will no longer be traded on the NYSE once the transaction is completed.

Summit Materials is a market-leading producer of aggregates and cement with vertically integrated operations that supply ready-mix concrete and asphalt in select markets. Summit is a geographically diverse, materials-led business of scale that offers customers in the United States and British Columbia, Canada, high quality products and services for the public infrastructure, residential and non-residential end markets.

Quikrete is a privately owned family business founded in 1940. It is a leading building materials company based in Atlanta, Georgia. From the original yellow bag of premixed concrete, today Quikrete’s portfolio of brands includes Quartz, Spec Mix, Rinker Materials, U.S. Pipe, Contech Engineered Solutions, Keystone Hardscapes, Pavestone, Custom Building Products, QPR and other leading brands.

The Davis Polk corporate team includes partners James P. Dougherty and Evan Rosen and counsel Heather Weigel. Partner Kyoko Takahashi Lin and counsel Joseph S. Brown are providing executive compensation advice. Partner Hilary Dengel and counsel Welton E. Blount are providing finance advice. Partner William A. Curran is providing tax advice. Partner Howard Shelanski and counsel Benjamin M. Miller are providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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