August 26, 2010
Bluegrass Materials Company, LLC (Bluegrass), a construction materials company based in Bowling Green, KY, today announced that it has completed the purchase of seven aggregates quarries, three resale aggregates distribution centers, and one concrete block manufacturing facility in Kentucky from CEMEX, S.A.B de C.V. (NYSE: CX).
Ted Baker II, CEO of Bluegrass stated, “We are very excited to announce our first acquisition – these are a terrific, highly profitable group of assets that create a platform from which to launch our growth strategy in the aggregates business. We are especially looking forward to working with an experienced and effective team of employees who have achieved a high standard of safety and operational excellence at these facilities.”
Bluegrass is a wholly owned subsidiary of Panadero Aggregates Holdings, LLC (“Panadero”). Panadero was formed in 2010 by John D. Baker II and Ted Baker II, formerly of Florida Rock Industries, to acquire aggregates and other construction materials businesses.