Heidelberg Materials to Buy Maas Group Unit For Up to $1.2 Billion in Australia Expansion

By Aimee Look

Heidelberg Materials agreed to buy Maas Group's construction materials business in Australia for up to $1.2 billion, an asset it sees as a linchpin for its footprint in the country.

The German building materials group said Thursday that it agreed to buy the unit for up to 1.7 billion Australian dollars ($1.19 billion) in cash, on a debt-free basis. The deal includes a potential A$120 million cash payment linked to further post-completion milestones, Maas Group said.

The purchase will help Heidelberg Materials' Australian arm expand its reach, as it includes 40 quarries with more than 350 million metric tons in combined reserves, 22 concrete plants, a recycling site and two asphalt operations, Heidelberg said.

"We are taking a significant step to expand our business in Australia, focusing on further improving our aggregates capacity and concrete supply capabilities in a core market," chairman of the managing board, Dominik von Achten, said.

The deal is subject to regulatory approvals, and is expected to close in the second half of the year, Heidelberg Materials said.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

February 05, 2026 02:18 ET (07:18 GMT)