Lafarge North America Inc. signed binding agreements to sell its Flowery Branch quarry and five others in Georgia. The six sites have a total enterprise value of $160 million.
Joelle Lipski-Rockwood, director of communications for Lafarge, said the deal likely would be completed within the next couple of months.
“As far as when the transaction will be finalized, we sign the deal and then there are some regulatory approvals that need to happen,” she said. “So the closing of the deal can be anywhere between 30 and 90 days, just depending on how long that process takes.”
Lipski-Rockwood said she could not comment on who is buying the quarries, however Rock Products has confirmed that Bluegrass Materials Co. will purchase the Ball Ground, Clayton, Cumming, and Douglasville quarries located in the Atlanta metropolitan area.
The Flowery Branch location, as well as a Jackson County site, will be sold to another party.
Ted Baker II, CEO of Bluegrass Materials said, “This is a terrific opportunity for Bluegrass Materials to continue to build the company and will significantly expand our aggregates footprint into one of the most dynamic markets in the country. We are very much looking forward to working with the employees at these facilities and to continuing the high standard of safety excellence that they have set.”
The six quarries employ a total of about 80 people.