Martin Marietta Materials Agrees To Combine With Lhoist Group’s Subsidiary Lhoist North America For $13.5B In Cash And Shares Of Martin Mari

Becomes Nation’s Leading Lime and Limestone Franchise with Industry-Leading Margins, Long-Lived Reserves and Broad Exposure to Critical Infrastructure and Industrial End Markets Advances SOAR 2030 Strategic Objective to Expand Specialties Platform with Attractive "Aggregates-Like" Characteristics Transaction Expected to be Accretive1 to Earnings and Margins in the First Year Following Closing Martin Marietta to Host Investor Call Today at 8:30 a.m.

Eastern Time RALEIGH, N.C., June 29, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM ) (Martin Marietta or the Company) today announced that it has entered into a definitive agreement to combine with Lhoist North America, Inc. (Lhoist North America or LNA), a subsidiary of Lhoist Group, for $13.5 billion in cash and shares of Martin Marietta common stock.

The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals.

Lhoist North America is a leading producer of hi-calcium lime, dolomitic lime and industrial mineral products, serving a diversified set of end markets such as domestic steel manufacturing, infrastructure and heavy nonresidential construction, environmental and agricultural applications.

In addition, its products are critical inputs supporting reindustrialization and related development across North America.

LNA operates a network of 20 quarries and production facilities and 45 distribution terminals, generating $1.8 billion in gross sales and $786 million of Adjusted EBITDA2 for the twelve months ended December 31, 2025.

LNA is anchored by more than 2 billion tons of high-quality limestone reserves, strategically positioned in high-growth, Sun Belt metropolitan corridors.

This reserve base of over 200 years of useful life represents one of the most significant and strategically advantaged limestone positions in North America.

Transaction Details and Approvals The transaction values LNA at an enterprise value of approximately $13.5 billion, implying a multiple of approximately 15x Adjusted EBITDA4 for the twelve months ended December 31, 2025, including run-rate cost synergies.

Consideration will consist of $7.0 billion in cash (subject to customary adjustments) and shares of Martin Marietta common stock valued at $6.5 billion based on the volume-weighted average price per share over the 15 consecutive trading days prior to signing.

Upon closing, the Berghmans family is expected to own approximately 15% of Martin Marietta on a fully diluted basis and will have the right to appoint one director and one observer to Martin Marietta’s Board of Directors.

Martin Marietta expects its Combined Net Leverage5 ratio to be approximately 3.7x at closing with a target of reducing this ratio to below 2.5x within 24 months of closing through strong free cash flow generation.

The transaction is expected to close in the second half of 2026 subject to receipt of required regulatory approvals.