Irish company CRH has finalised a deal to acquire just over $7bn of assets belonging to the newly merged LafargeHolcim cement giant.
The sale was a requirement of the deal being approved by European competition authorities.
The transaction more than doubles CRH’s cement production volumes and will further expand its aggregates and ready-mixed concrete portfolios. It will become the third largest building materials player globally and the second largest in aggregates.
Employee numbers will increase by 15,000 to 91,000.
The acquired assets consist of over 685 locations in 11 countries including UK aggregates business Lafarge Tarmac.
Albert Manifold, CRH’s chief executive (pictured), said: "CRH is a step closer to achieving our aim of becoming the world’s leading building materials company.
"The businesses we are acquiring, which represent an excellent geographic fit with CRH’s existing operations, are all strong performers in their respective areas."
The asset sale was originally announced in February. The LafargeHolcim merger was completed last month.