Quikrete, a leading construction materials supplier, has reportedly made a takeover bid for Summit Materials (SUM, Financial), a company with a market value exceeding $7 billion. Quikrete, a private enterprise, is currently in the preliminary stages of negotiations with its advisors regarding this acquisition. Due to the confidential nature of the discussions, details remain scarce.
Established in 1940 and based in Atlanta, Georgia, Quikrete is renowned as one of North America's largest manufacturers of packaged concrete and cement mixes. Summit Materials, headquartered in Denver, Colorado, supplies cement, ready-mix concrete, and asphalt, while also offering construction and paving services. Last year, Summit entered into a $3.2 billion merger agreement with Cementos Argos's U.S. operations.
