On November 25, 2024, Quikrete Holdings, Inc. acquired Summit Materials, Inc. (NYSE: SUM) for $52.50 per share in cash, valuing the enterprise at approximately $11.5 billion USD ($15.9 billion CAD), including debt. The transaction combined Summit’s aggregates, cement, and ready-mix businesses with Quikrete’s cement-based products, creating a vertically integrated North American construction leader. Both companies operated in Canada, serving infrastructure and commercial markets.

The deal, approved by both boards, offered a 36% premium to Summit’s 90-day average share price. It was expected to close in the first half of 2025, with Summit becoming a private subsidiary of Quikrete.

Morgan Stanley & Co. LLC and Evercore advised Summit, with Davis Polk & Wardwell LLP as legal counsel. Wells Fargo advised Quikrete, provided debt financing, and engaged Troutman Pepper Hamilton Sanders LLP and Covington & Burling LLP as legal advisors.