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Florida Rock Scions Acquire Kentucky Block, Aggregate Properties From Cemex

Bluegrass Materials Co. LLC has agreed to acquire one concrete block plant, along with seven quarries and three aggregate distribution properties, in a $90 million deal with Cemex, which reported the facilities as non-core assets for it Sun Belt-centered U.S portfolio

Sources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff

Bluegrass Materials Co. LLC has agreed to acquire one concrete block plant, along with seven quarries and three aggregate distribution properties, in a $90 million deal with Cemex, which reported the facilities as non-core assets for its Sun Belt-centered U.S portfolio. The buyer is a wholly-owned subsidiary of Panadero Aggregate Holdings LLC, recently launched by former Florida Rock Industries executives John D. Baker II and Edward L. Baker II. They were among Florida Rock principals who left the family business following its late-2007 takeover by Vulcan Materials Co. Cemex inherited the Kentucky properties with its mid-2007 takeover of Rinker Materials Corp.