Boral Limited (ASX:BLD) will spend $81.5 million to acquire two quarries and a concrete plant on Queensland's Sunshine Coast.
The building materials supplier says it has inked a deal with Sunshine Coast Quarries to buy a large quarry at Moy Pocket, a smaller quarry at Wondai and a concrete plant at Gympie.
While the transaction is still subject to clearance from the Australian Competition and Consumer Commission, Boral says the deal helps to secure its position on the Sunshine Coast.
The company believes the purchases will enable it to support projected population growth in the region.
In the 2011 financial year Sunshine Coast Quarries generated revenue of $32 million and EBITDA of around $11 million.
In the first six months of the 2011 financial year, Boral improved its net profit to $92.7 million.
