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News & Insights

Martin Marietta’s $2.1 Billion Sale of its South Texas Cement and Related Concrete Operations to CRH plc

November 21, 2023

On November 21, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell its South Texas cement business and certain of its related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transaction.

The Cravath team is led by partners Robert I. Townsend III and George F. Schoen and includes associates Edward O. Minturn, Patrick S. Taylor and Christopher G. Doherty on M&A matters; partners Joseph D. Zavaglia and Kelly M. Smercina and associate J. Elizabeth Allan on capital markets matters; partner Christopher K. Fargo, of counsel Kiran Sheffrin and associates Carlos Nicholas Obando and Christopher M. Winters on tax matters; partner Matthew J. Bobby, of counsel Sarah W. Colangelo and associate Celine Li on executive compensation and benefits matters; partner Matthew Morreale, senior attorney Annmarie M. Terraciano and associate Star S. Gulant on environmental matters; senior attorney Joyce Law and practice area attorneys Brian M. Budnick and Lauren Piechocki on real estate matters; of counsel Benjamin G. Joseloff on regulatory matters; and practice area attorney Nicole M. Peles on antitrust matters. Priya Patel also worked on M&A matters and Jessica Shung also worked on tax matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Capital Markets
  • Tax
  • Executive Compensation and Benefits
  • Environmental
  • Antitrust
  • Industrials and Chemicals

People

Photo
Name
Robert I. Townsend III
Title
Corporate
Title
Partner
Email
rtownsend@cravath.com
Phone
+1-212-474-1964
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    Education

    • J.D., 1990, Harvard Law School
      magna cum laude
    • A.B., 1987, Harvard College
      magna cum laude

    Admitted In

    • New York
    Photo
    Name
    George F. Schoen
    Title
    Corporate
    Title
    Partner
    Email
    gschoen@cravath.com
    Phone
    +1-212-474-1740
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      Education

      • J.D., 1998, University of Chicago Law School
        with Honors
      • B.A., 1994, Cornell University

      Admitted In

      • New York
      Photo
      Name
      Joseph D. Zavaglia
      Title
      Corporate
      Title
      Partner
      Email
      jzavaglia@cravath.com
      Phone
      +1-212-474-1724
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        Education

        • J.D., 2004, Brooklyn Law School
          Valedictorian, summa cum laude
        • B.B.A., 2001, College of Insurance
          cum laude

        Admitted In

        • New York
        Photo
        Name
        Kelly M. Smercina
        Title
        Corporate
        Title
        Partner
        Email
        ksmercina@cravath.com
        Phone
        +1-212-474-1133
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          Education

          • J.D., 2014, University of Michigan Law School
            Order of the Coif, summa cum laude
          • B.A., 2011, University of Notre Dame
            Phi Beta Kappa, summa cum laude

          Admitted In

          • New York
          Photo
          Name
          Christopher K. Fargo
          Title
          Tax
          Title
          Partner
          Email
          cfargo@cravath.com
          Phone
          +1-212-474-1236
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            Education

            • J.D., 2006, Columbia Law School
              Harlan Fiske Stone; Michael Lynne Scholar
            • B.A., 2003, Boston College
              Honors Program, cum laude

            Admitted In

            • New York
            Photo
            Name
            Matthew J. Bobby
            Title
            Executive Compensation and Benefits
            Title
            Partner
            Email
            mbobby@cravath.com
            Phone
            +1-212-474-1128
            vCard
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              Education

              • J.D., 2012, Harvard Law School
                magna cum laude
              • M.A., 2009, University of Pennsylvania
              • B.A., 2009, University of Pennsylvania
                Phi Beta Kappa, summa cum laude

              Admitted In

              • New York
              Photo
              Name
              Matthew Morreale
              Title
              Corporate
              Title
              Partner
              Email
              mmorreale@cravath.com
              Phone
              +1-212-474-1534
              vCard
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                Education

                • J.D., 1997, Columbia Law School
                  Harlan Fiske Stone Scholar
                • M.S., 1994, University of Pennsylvania
                • B.A., 1990, University of Pennsylvania
                • B.A.S., 1990, University of Pennsylvania

                Admitted In

                • New York
                Photo
                Name
                Benjamin G. Joseloff
                Title
                Corporate
                Title
                Partner
                Email
                bjoseloff@cravath.com
                Phone
                +1-212-474-1810
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                  Education

                  • J.D., 2008, Stanford Law School
                    Pro Bono Distinction
                  • B.A., 2004, New York University
                    Phi Beta Kappa, summa cum laude

                  Admitted In

                  • New York
                  Photo
                  Name
                  Edward O. Minturn
                  Title
                  Corporate
                  Title
                  Partner
                  Email
                  eminturn@cravath.com
                  Phone
                  +1-212-474-1630
                  vCard
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                    Education

                    • J.D., 2016, New York University School of Law
                      cum laude
                    • B.A., 2013, Duke University
                      with Distinction

                    Admitted In

                    • New York
                    Photo
                    Name
                    Kiran Sheffrin
                    Title
                    Tax
                    Title
                    Of Counsel
                    Email
                    ksheffrin@cravath.com
                    Phone
                    +1-212-474-1842
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                      Education

                      • J.D., 2013, Brooklyn Law School
                        magna cum laude
                      • B.A., 2010, Wesleyan University

                      Admitted In

                      • New York
                      Photo
                      Name
                      Sarah W. Colangelo
                      Title
                      Executive Compensation and Benefits
                      Title
                      Of Counsel
                      Email
                      scolangelo@cravath.com
                      Phone
                      +1-212-474-1254
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                        Education

                        • J.D., 2014, Georgetown University Law Center
                          Order of the Coif, magna cum laude
                        • B.A., 2007, Duke University
                          Phi Beta Kappa, summa cum laude

                        Admitted In

                        • New York
                        Photo
                        Name
                        Nicole M. Peles
                        Title
                        Litigation
                        Title
                        Of Counsel
                        Email
                        npeles@cravath.com
                        Phone
                        +1-212-474-1624
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                          Education

                          • J.D., 2010, New York University School of Law
                            cum laude
                          • A.B., 2007, Dartmouth College

                          Admitted In

                          • New York
                          Name
                          Patrick S. Taylor
                          Title
                          Corporate
                          Title
                          Of Counsel
                          Email
                          ptaylor@cravath.com
                          Phone
                          +1-212-474-1904
                          vCard
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                            Education

                            • J.D., 2017, Harvard Law School
                              cum laude
                            • B.A., 2013, Brigham Young University
                              magna cum laude

                            Admitted In

                            • New York
                            Photo
                            Name
                            Annmarie M. Terraciano
                            Title
                            Corporate
                            Title
                            Senior Attorney
                            Email
                            aterraciano@cravath.com
                            Phone
                            +1-212-474-1366
                            vCard
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                              Education

                              • J.D., 1998, Columbia Law School
                                Harlan Fiske Stone Scholar
                              • M.S., 1994, University of Wisconsin - Madison
                              • B.A., 1989, Wellesley College
                                cum laude

                              Admitted In

                              • New York
                              Photo
                              Name
                              Joyce Law
                              Title
                              Corporate
                              Title
                              Senior Attorney
                              Email
                              jlaw@cravath.com
                              Phone
                              +1-212-474-1066
                              vCard
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                                Education

                                • J.D., 1997, Boston University School of Law
                                • B.Comm., 1994, University of Alberta
                                  Distinction

                                Admitted In

                                • New York
                                Photo
                                Name
                                Brian M. Budnick
                                Title
                                Corporate
                                Title
                                Practice Area Attorney
                                Email
                                bbudnick@cravath.com
                                Phone
                                +1-212-474-1914
                                vCard
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                                  Education

                                  • J.D., 2011, Benjamin N. Cardozo School of Law
                                    cum laude
                                  • B.A., 2006, University of Virginia

                                  Admitted In

                                  • New York
                                  Name
                                  Lauren Piechocki
                                  Title
                                  Corporate
                                  Title
                                  Practice Area Attorney
                                  Email
                                  lpiechocki@cravath.com
                                  Phone
                                  +1-212-474-1875
                                  vCard
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                                    Education

                                    • J.D., 2012, Hofstra University School of Law
                                    • B.A., 2005, Syracuse University
                                      Dean's Scholar Maxwell Citizen Education Conference Scholar, cum laude

                                    Admitted In

                                    • New York

                                    Related News & Insights

                                    Deals & Cases

                                    November 18, 2024

                                    Martin Marietta Materials, Inc.’s $1.5 Billion Registered Senior Notes Offering

                                    Cravath represented Martin Marietta Materials, Inc. in connection with its $1.5 billion registered senior notes offering. Martin Marietta Materials, Inc. is a leading supplier of aggregates and heavy building materials for the construction industry in the United States. The transaction closed on November 4, 2024.

                                    Deals & Cases

                                    February 12, 2024

                                    Martin Marietta’s $2.05 Billion Acquisition of Aggregates Operations from Affiliates of BWI Southeast

                                    On February 12, 2024, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that on February 11, 2024, it entered into a definitive agreement to acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (“BWI Southeast”) for $2.05 billion in cash. Additionally, on February 9, 2024, Martin Marietta completed its previously announced divestiture of its South Texas cement and related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transactions.

                                    Deals & Cases

                                    August 24, 2023

                                    Martin Marietta’s Sale of Certain West Coast Cement Operations to UNACEM Corp S.A.A.

                                    On August 24, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell the Tehachapi, California cement plant to UNACEM Corp S.A.A. for $317 million in cash. Cravath is representing Martin Marietta in connection with the transaction.

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