Hanson Construction Materials completed its acquisition of Rocla Quarry Products from New Zealand-based company Fletcher Building at the end of January 2016 after gaining clearance from the Australian Competition and Consumer Commission (ACCC) and the Foreign Investment Review Board.
“The purchase is a strategic acquisition for Hanson that helps secure future sand reserves in key markets,” a Hanson statement read.
Although the sale was valued at approximately $AUD203 million when it was first announced in August 2015, a recent Fletcher Building company statement indicated Hanson paid $AUD150 million for the Rocla business.
It was noted, however, that Fletcher Building generated a further $AUD44 million by divesting Rocla assets excluded from the Hanson transaction to other unnamed third parties, resulting in an overall consideration of about $AUD194 million and a post-tax profit of approximately $AUD77 million.
The transaction did not include the Rocla Pipes and Concrete Products business, which continues to be owned by Fletcher Building.
A Hanson spokesperson said the transaction – which adds a further 15 Australian quarries across five states to the company’s portfolio – would extend the company’s construction materials product offering.
The spokesperson confirmed to Quarry that these sites would be rebranded, stating, “The integration process is now underway with the brand transition from Rocla Quarry Products to Hanson expected to support an enhanced level of overall service for customers.”
The specific timing of this rebranding process had not been determined at the time of writing.
Rocla has been a national supplier of building and construction materials since the early 1960s, specialising in sand.
Hanson is an aggregate producer that operates nationwide. It is part of HeidelbergCement, a multinational cement, concrete and heavy building products supplier that operates in five continents.