Greece-based Heracles Group (LafargeHolcim) has signed an agreement with HeidelbergCement’s Halyps subsidiary, which will see Heracles acquire its aggregates business and two ready-mix concrete plants in Athens, Greece.

The acquisition will strengthen the company’s position to support Athens’ thriving metropolitan area and key infrastructure projects with sustainable building solutions, according to a press release. This is LafargeHolcim’s fifth bolt-on acquisition in 2021.

"I am excited about the opportunities and growth prospects of this acquisition in the Attica region of central Greece. It will provide additional support towards our net zero ambition with our leading range of sustainable building solutions such as ECOPact green concrete. With this acquisition, I look forward to welcoming many new colleagues into the LafargeHolcim family," said Miljan Gutovic, region head of EMEA.
 
The aggregates business in Mandra is one of the largest aggregate businesses in Greece. The two ready-mix concrete plants are based in Gerakas and Aspropyrgos.

HeidelbergCement will continue cement production in the country through its Halyps Cement subsidiary. "We are pleased with the successful signing of the transaction in Greece," said Dr Dominik von Achten, chairman of the Managing Board of HeidelbergCement. "After the divestment of the Kuwait business, the realignment in Greece is the next step in our portfolio optimisation as part of our Beyond 2020 strategy."