DENVER, Nov. 21,
2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:
SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company")
today issued the following statement in response to media
reports:
"Summit previously disclosed receipt of a non-binding
acquisition proposal and confirmed the Company has held initial
discussions with the interested party. Summit does not plan to
provide any updates with respect to this matter, except as required
under applicable law."
Morgan Stanley & Co. LLC and Evercore are acting as
financial advisors to Summit, and Davis
Polk & Wardwell LLP is acting as legal advisor.
About Summit Materials, Inc.
Summit Materials is a
market-leading producer of aggregates and cement with vertically
integrated operations that supply ready-mix concrete and asphalt in
select markets. Summit is a geographically diverse, materials-led
business of scale that offers customers in the United
States and British Columbia, Canada high quality
products and services for the public infrastructure, residential
and non-residential end markets. Summit has a strong track record
of successful acquisitions since its founding and continues to
pursue high-return growth opportunities in new and existing
markets. For more information about Summit Materials, please
visit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" within the meaning of the federal securities laws,
which involve risks and uncertainties. Forward-looking statements
include all statements that do not relate solely to historical or
current facts, and you can identify forward-looking statements
because they contain words such as "believes, " "expects," "may,"
"will," "should," "seeks," "intends," "trends," "plans,"
"estimates," "projects" or "anticipates" or similar expressions
that concern our strategy, plans, expectations or intentions. These
forward-looking statements are subject to risks, uncertainties and
other factors that may cause our actual results, performance or
achievements to be different from future results, performance or
achievements expressed or implied by such forward-looking
statements. We derive many of our forward-looking statements from
our operating budgets and forecasts, which are based upon many
detailed assumptions. While we believe that our assumptions are
reasonable, it is very difficult to predict the effect of known
factors, and, of course, it is impossible to anticipate all factors
that could affect our actual results.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any
other person that the results or conditions described in such
statements or our objectives and plans will be realized. Important
factors could affect our results and could cause results to differ
materially from those expressed in our forward-looking statements,
including but not limited to the factors discussed in the section
entitled "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended December 30, 2023, and Quarterly Report on
Form 10-Q for the fiscal quarter ended March 30, 2024. Such
factors may be updated from time to time in our periodic filings
with the Securities and Exchange Commission ("SEC"), which are
accessible on the SEC's website at www.sec.gov. We undertake
no obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as required by law.
Contact Information
Andy
Larkin
VP, Investor Relations
Summit Materials, Inc.
andy.larkin@summit-materials.com
720-618-6013
Jim Barron/Benjamin Spicehandler/Danielle Berg
FGS Global
Summit@fgsglobal.com
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SOURCE Summit Materials, Inc.
