FRTA - Quikrete Holdings acquires Forterra at $24/share in cash

Forterra ([[FRTA]] +5.0%) to be taken over by Quikrete Holdings, at $24/share in an all cash transaction valued at ~$2.74B, including outstanding debt. Upon completion of the transaction, Forterra will become a privately held company. The transaction is expected to close in 4Q21.“Forterra and Quikrete are an ideal strategic fit, and this combination is a natural next step for our company, enabling us to better serve our customers across the company on their concrete projects from start to finish. We are excited to grow our capabilities in the potable water distribution market through Forterra’s well-respected U.S. Pipe business,” said Will Magill, CEO of Quikrete Holdings, Inc.

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Quikrete Holdings acquires Forterra at $24/share in cash