Knife River Corporation announced on March 10, 2025, the completion of its previously announced acquisition of Strata Corporation for $454 million. This transaction expands Knife River's operations in North Dakota and northwestern Minnesota.
The acquisition was financed using cash on hand and proceeds from a new $500 million Term Loan B facility. Strata is an aggregates-led, vertically integrated company with over 75 aggregates locations, 28 ready-mix plants, three asphalt plants, and contracting services.
Knife River expects the Strata acquisition to be accretive to its Adjusted EBITDA margin within the first year. The integration process is underway, with expectations for positive financial impacts in 2025 and beyond, particularly within the Central Region.
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