Commercial Metals Company (CMC) announced that it has successfully completed the acquisition of Foley Products Company LLC for a cash purchase price of $1.84 billion, subject to customary adjustments.
Foley is a supplier of precast concrete and pipe products to the Southeast region, with additional presence in the central and western U.S. The company operates 18 facilities across nine states. Foley’s products are available in drainage, water management, dry utility and road construction applications across residential infrastructure, non-residential and infrastructure end markets. The company is widely recognized for its leading capabilities in design, engineering, manufacturing efficiency, and quality.
“I am very excited to welcome Foley’s approximately 600 employees to the CMC team,” said Peter Matt, president and chief executive officer. “With both the acquisitions of Foley and CP&P now closed, CMC operates one of the largest precast concrete businesses in the United States. The establishment of this platform represents a major new growth platform for our Company and should provide significant opportunities to create value for our customers and shareholders for years to come.”
