CRH and the Barro Group are set to become the owners of Adbri once a transaction currently in progress is completed later this year. CRH will possess approximately 57% of Adbri's stock, while the remaining shares will be held by the Barro Group.
CRH's origins can be traced back to 1970 when two Irish companies, Cement Limited and Roadstone Limited, merged. According to the company’s "About" page, eight years later, CRH acquired an American company, Amcor, marking its entry into the building products business in the United States. In 1997, it expanded into Canada and by 2022 had divested its building envelope business—including its glass and glazing systems divisions—prior to expanding its architectural products business. The company now has projects spread across North America, Britain, Romania, and other parts of Europe.
Adbri is an Australian construction materials and industrial mineral manufacturing company with a history dating back to 1882. It owns 13 brands outright and has seven joint venture companies under its umbrella. According to its website, Adbri operates more than 60 quarries and over 100 concrete plants, as well as more than 30 cement and lime facilities and depots. Additionally, it runs seven masonry facilities.
Albert Manifold, Chief Executive Officer at CRH expressed his satisfaction regarding this significant step towards acquiring Adbri in partnership with the Barro family. "Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates while creating additional opportunities for growth and development for our existing Australian business," Manifold said in a news release dated February 26 announcing the acquisition agreement between the two companies. He added that he looks forward to working with the Barro family over the coming years to enhance Adbri's long-term growth and performance.
The news release also stated that the Adbri board unanimously recommended shareholders to approve the agreement. The purchase agreement is currently under independent review and subject to customary regulatory terms and conditions. The deal is expected to be finalized sometime this year.