CRH completes US distribution operation divestment

CRH plc reached an agreement to divest its Americas Distribution business for a total cash consideration of US$2.63bn on 24 August 2017, and the company has announced today that this transaction is now complete.

The company said the price achieved from the sale of its US distribution operation to Beacon Roofing Supply represents 16 times earnings before interest, tax, depreciation and amortisation.

A note by Dublin-based brokers Davy said in August that CRH’s disposal of its US distribution business was "in line with its strategy of recycling capital into higher-returning business."