Building products group Adbri has bolstered its position in Queensland markets, spending $58 million to buy Zanow’s Concrete And Quarries.
Zanow’s owns two concrete plants and sand, gravel and hard rock quarries in western Brisbane, and comes with approvals for further expansion.
The purchase is being made at an EBITDA multiple of 8.5 times and will be financed internally.
Adbri managing director Nick Miller said the purchase complemented the company’s existing Brisbane businesses.
Miller said: “This acquisition provides access to quarries with approved reserves of over 70 million tonnes that will provide a source of long-term, high quality raw materials to supply our vertically integrated concrete network and external customers.”
Zanow’s was founded in 1957 in the Ipswich and Brisbane Valley Region and is family-owned.
Picture: Zanow’s Concrete And Quarries
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