Boral to take on Sunshine Coast business

Boral to acquire quarry and concrete assets of Sunshine Coast Quarries

July 26, 2011

Boral will further secure its position in South East Queensland with the acquisition of the quarry and concrete assets of Sunshine Coast Quarries.

The $81.5 million deal includes a large scale quarry at Moy Pocket and a smaller operation at Wondai, as well as a concrete plant at Gympie.

As reported in a company statement, the acquisition provides the Sydney-based construction materials manufacturer with additional capability to service major infrastructure projects and support projected population growth on the Sunshine Coast.

"The acquisition of Sunshine Coast Quarries represents further investment in our core Australian construction materials business and adds high quality assets and market positions in attractive growth areas of Queensland," CEO Mark Selway says.

The transaction is expected to be completed in the second half of 2011 once it receives clearance from the Australian Competition and Consumer Commission (ACCC).

Sunshine Coast-based accounting firm Mulraneys brokered the deal, and will continue to assist with the overall business accounting and reporting throughout the ACCC approval period and assist with the handover of the businesses.

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