Knife River Corporation announced on November 2, 2024, the acquisition of Albina Asphalt, a strategic move to expand its high-margin liquid asphalt materials product line. This acquisition includes terminals located in the company's most profitable geographic segment, enhancing its operational footprint.
The addition of Albina Asphalt is expected to generate attractive financial returns for Knife River. This aligns with the company's 'Competitive EDGE' strategy, which emphasizes growth and EBITDA margin improvement through targeted acquisitions.
The acquisition was disclosed as part of Knife River's broader capital deployment strategy, which saw $129.3 million invested in six acquisitions focused on aggregate reserves and construction materials through early November 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.