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Argos North America and Summit Materials Combine to Create a Stronger Force in the U.S. Construction Materials Industry

Combined operations will represent one of the largest suppliers of cement and ready-mix in the U.S.

Cementos Argos today announced it has entered into a definitive agreement with Summit Materials, Inc. (NYSE:SUM) under which the U.S. operations of Cementos Argos, Argos North America Corp, will combine with Summit in a cash and stock transaction valued at $3.2 billion.

“This combination accelerates the strategic growth plans for both Argos North America and Summit,” said Simon Bates, CEO of Argos North America. “As a result of the combination, our ability to share best practices and the increased access to aggregate sources will enable us to better serve our customers.”

Key Highlights of the Transaction:

  • Substantial Equity Stake in NYSE Listed Company: Cementos Argos will achieve a strategic objective of acquiring a substantial equity stake in a New York Stock Exchange listed company through its 31% ownership stake in Summit, while becoming a more vertically integrated construction materials provider in the U.S., offering new opportunities for growth and visibility.
  • Expanded Footprint: The transaction is expected to result in an expanded and more robust geographic presence, positioning the combined organization to better serve diverse markets and customers across the U.S. The combined organization will have a significant presence in major urban markets spanning 30 U.S. states. It will benefit from vertical integration in cement production, aggregates and ready-mix, as well as a strategic network of ports and terminals to complement local capacity.
  • Efficiencies: This combination unlocks estimated annual synergies of approximately $100 million per year, derived from optimized sourcing, enhanced operational efficiency, increased utilization of the import terminals' network, and an augmented asset base to increase the use of alternative fuels.

“This agreement enables Cementos Argos to fulfill its strategic goal of generating greater economic value for shareholders,” said Juan Esteban Calle, Cementos Argos CEO. “It aligns with the company's objective of holding a substantial stake in a NYSE-listed company and leverages a platform with a proven track record of growth, enabling substantial potential for future expansion and profitability. Argos will continue to contribute its business knowledge and leadership in sustainability initiatives as part of the combined organization’s Board of Directors while further solidifying its growth and value proposition in the other countries in the Americas where it has a presence.”

The transaction is subject to antitrust regulatory approval, approval of Summit’s shareholders, and other customary closing conditions. Both Summit and Argos North America will continue to operate independently until the necessary legal and regulatory approvals are met.

About Summit Materials:

Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets. For more information about Summit Materials, please visit

About Argos North America:

Argos North America, headquartered in Alpharetta, Ga., has had a presence in the U.S. since 2005. The company has more than 2,300 employees and Argos has invested more than $3 billion in the U.S. since beginning operations here. Through a combination of expertise and dedication, Argos North America has participated in some of the most significant and well-recognized projects in its areas of operations. The company's value chain includes a network of four cement plants, two grinding mills, eight ports, 10 inland terminals, approximately 140 ready-mix plants, and a diverse portfolio of cement and concrete based products. Argos North America has a strong commitment to sustainability, which combines its core identity of research and development with proprietary technology, aiming to find better solutions to tomorrow’s challenges. The company is incredibly proud of its safety advocacy, environmental stewardship, and continued efforts to build a brighter future for people and places. For more information, please visit

About Cementos Argos:

Cementos Argos is a growing multinational company, producer and distributor of cement, concrete and aggregates. With nearly 90 years of history, it has a presence in 16 countries and territories. Thanks to its installed capacity, value creation for its stakeholders, constant innovation and commitment to sustainability, Argos is a leader in Colombia and has become a significant player in the industry in the Americas. It has nearly 7,000 employees, 11 integrated cement plants, 197 concrete plants, 7 aggregate plants, 9 clinker grinding mills, 29 ports and terminals, almost 1,700 mixer trucks, over 1,500 train wagons and four vessels of its own. Its total installed capacity is 24 million tons of cement, and in 2022, it exported to 25 destinations. For more information, please visit

Forward-Looking Statements:

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those projected in the forward-looking statements. More information about the potential factors that could affect the business and financial results is included in the companies' filings with the Securities and Exchange Commission.


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