LOS ANGELES: CalPortland Company, a major U.S. subsidiary of Japan’s Taiheiyo Cement Corporation, announced Monday it has reached an agreement to acquire the California ready-mixed concrete business assets of Vulcan Materials Company.
The deal, pending regulatory approval and other standard closing conditions, is expected to be finalized by December 2025, according to a statement from Taiheiyo Cement.
The acquisition is a key part of Taiheiyo Cement’s medium-term U.S. growth strategy. The move will expand CalPortland’s operations into the San Francisco Bay Area, a new market for its concrete business, and will bolster its existing footprint in the San Diego region of Southern California.
Company officials cited robust and sustained demand in California as a primary driver for the deal. In the Bay Area, they anticipate significant investments in AI-related data centers and power infrastructure. The San Diego market is expected to see steady housing demand fueled by population growth and urban redevelopment projects.
“Strengthening our ready-mix business in these high-growth regions is critical to our strategy,” the parent company said in its release. The acquisition is expected to create logistical synergies, reduce costs and provide a stable outlet for cement produced at CalPortland’s plants.
The transaction aims to strengthen Taiheiyo Cement’s revenue base in the United States, enhance its supply chain, and expand its initiatives in lower-carbon construction materials.
CalPortland, headquartered in California, is a leading supplier of cement, concrete and aggregates. Its parent company, Taiheiyo Cement, is one of Japan’s major cement producers.