Martin Marietta Materials (NYSE: MLM) completed a $450 million asset exchange with Quikrete Holdings on February 23, 2026. In the deal, MLM acquired Quikrete’s aggregates operations that produce roughly 20 million tons of material annually across Virginia, Missouri, Kansas and Vancouver, British Columbia, and received Quikrete’s Midlothian cement plant, associated cement terminals, Texas ready‑mixed concrete assets and certain non‑operating land. The transaction is the largest aggregates acquisition in MLM’s history and the capstone of its SOAR 2025 portfolio‑reshaping plan, moving the company toward a pure‑play aggregates model.
The exchange shifts MLM’s revenue mix toward higher‑margin aggregates production. Aggregates generate significantly higher gross margins than cement or ready‑mixed concrete, and the new assets expand the company’s footprint into key growth corridors such as the Sunbelt region, where infrastructure spending and data‑center construction are accelerating. By exchanging cyclical cement and ready‑mixed assets for core aggregates reserves, MLM is tightening its focus on location‑based aggregates production, which historically delivers stronger pricing power and a more resilient margin profile.
Financially, the $450 million cash component strengthens MLM’s balance sheet and provides additional capital for future M&A and share‑buyback activity. Updated 2026 guidance now projects revenues of $7.16 billion and adjusted EBITDA of $2.43 billion at the midpoint, up from $6.15 billion and $2.11 billion in the twelve months ending Q4 2025. The guidance reflects the impact of the Quikrete acquisition and the earlier December 2025 purchase of Minnesota aggregates and asphalt assets from CRH.
Segment performance highlights the benefits of the shift. Aggregates revenue is expected to grow as the company leverages its expanded geographic reach, while the cement and ready‑mixed segments are being phased out. The higher‑margin mix is expected to lift operating margins, offsetting any short‑term cost pressures from integrating the new assets. Management noted that the transaction positions MLM well for future M&A opportunities as it launches its SOAR 2030 plan, which focuses on operational excellence and supply‑chain optimization.
Ward Nye, Chairman, President and CEO, emphasized that the exchange “establishes new growth platforms in key SOAR‑target markets while further strengthening our differentiated Central Division footprint.” He added that the deal accelerates the company’s aggregates‑led strategy and positions it well for future M&A opportunities as it launches SOAR 2030. The transaction signals strong confidence in the long‑term demand for aggregates and a commitment to a high‑margin, location‑based business model.
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