CalPortland Company, the California-based subsidiary of Japan’s Taiheiyo Cement Corporation, agreed to acquire 41 ready-mixed concrete plants and related assets from Vulcan Materials Company for $712 million, Nikkei reported. The transaction targets facilities in Northern and Southern California, with completion expected by December pending regulatory clearance.
The acquisition marks CalPortland’s first entry into the San Francisco Bay Area market while strengthening its position in San Diego. Vulcan’s California assets generated $524 million in sales last year, according to Taiheiyo’s announcement Monday. The deal includes two cement terminals alongside the concrete plants.
Taiheiyo cited anticipated demand from artificial intelligence infrastructure investments in Northern California and urban redevelopment projects in Southern California as key drivers. The company said the purchase aligns with its three-year strategy to expand U.S. operations and develop low-carbon cement alternatives.
The move comes as activist investor Palliser Capital presses Taiheiyo to unlock value from CalPortland, which it values at ¥444 billion ($2.9 billion). CalPortland previously abandoned a $350 million California acquisition in 2023 after Federal Trade Commission scrutiny over competition concerns.
Alabama-based Vulcan, the largest U.S. aggregates producer, recently expanded its own California footprint by acquiring Superior Ready Mix Concrete in December. The company maintains existing business relationships with CalPortland, including cement sales and aggregate purchases.
