Acquisitions

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

3. Acquisitions

The Company strategically acquires companies in order to increase its footprint and offer products and services that enhance its existing offerings. These acquisitions are accounted for as business combinations using the acquisition method, whereby the purchase price is allocated to the assets acquired and liabilities assumed, based on their estimated fair values at the date of the acquisition with the remaining amount recorded in Goodwill.

On September 15, 2025, the Company acquired Eco Material Technologies, a leading supplier of cementitious materials headquartered in Utah, United States (the 'Eco Material' acquisition) for a total consideration of $2,089 million. The Eco Material acquisition is reported in the Americas Materials Solutions segment.

During the nine months ended September 30, 2025, the Company completed the acquisition of 22 companies. The total cash consideration for these acquisitions, net of cash acquired, was $3,121 million. The estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition dates. The Company expects to finalize the valuation and complete the purchase price allocations as soon as practical but no later than one year from the acquisition dates.

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at September 30, 2025, including measurement period adjustments to provisional fair values in respect of acquisitions completed in previous periods, were:


in $ millions	Eco Material	Other acquisitions (i)	Total
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents	23	8	31
Accounts receivable, net	137	100	237
Inventories	37	46	83
Other current assets	19	6	25
Property, plant and equipment, net	533	465	998
Equity method investments	–	(49)	(49)
Intangible assets, net	921	64	985
Operating lease right-of-use assets, net	71	34	105
Total assets	1,741	674	2,415
Liabilities
Accounts payable	49	47	96
Accrued expenses	17	9	26
Operating lease liabilities	55	35	90
Long-term debt	–	22	22

Deferred income tax liabilities	192	(2)	190
Other liabilities	130	62	192
Total liabilities	443	173	616
Total identifiable net assets at fair value	1,298	501	1,799
Goodwill	791	608	1,399
Redeemable noncontrolling interests	–	(17)	(17)
Noncontrolling interests	–	(6)	(6)
Total consideration	2,089	1,086	3,175

Consideration satisfied by:
Cash payments	2,089	1,063	3,152

Deferred consideration (stated at net present cost)	–	4	4
Contingent consideration	–	19	19
Total consideration	2,089	1,086	3,175

Acquisitions of businesses, net of cash acquired
Cash consideration	2,089	1,063	3,152
Less: cash and cash equivalents acquired	(23)	(8)	(31)
Total outflow in the Condensed Consolidated Statements of Cash Flows	2,066	1,055	3,121

(i) Acquisitions are aggregated on the basis of individual immateriality. The acquisition balance sheet presented in this note reflects the identifiable net assets acquired in respect of acquisitions completed in the nine months through September 30, 2025, together with measurement period adjustments to provisional fair values in respect of acquisitions completed during previous periods; none of which were material.

As a result of the acquisitions completed through September 30, 2025, including adjustments to provisional values, the Company recognized $985 million of amortizable intangible assets and $1,399 million of goodwill. Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of cost savings and synergies within the Company’s segments and intangible assets that do not qualify for separate recognition. Of the goodwill recognized in respect of the acquisitions completed in the nine months ended September 30, 2025, $1,259 million is expected to be deductible for tax purposes. The amortizable intangible assets will be amortized against earnings over a weighted average of 19 years.

Acquisition-related costs

Acquisition-related costs have been included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. These costs include legal and consulting expenses incurred in connection with completed acquisitions. The Company incurred the following acquisition-related costs:


	Three months ended		Nine months ended
	September 30		September 30
in $ millions	2025	2024	2025	2024
Acquisition-related costs
Substantial acquisition-related (i)	13	23	13	45
Other acquisitions	3	5	18	7
Total acquisition-related costs	16	28	31	52

(i) Represents expenses associated with the non-routine substantial acquisition of Eco Material during the third quarter of 2025. The comparative periods presented include expenses related to the acquisition of Adbri, an Australian-based materials business, and to the acquisition of a portfolio of cement and readymixed concrete operations and assets in Texas, during 2024.

For the period from acquisition date through September 30, 2025, and September 30, 2024, respectively, acquisitions contributed $322 million and $733 million to Total revenues and a loss of $13 million and $3 million to Net income attributable to CRH, excluding substantial acquisition-related costs that arose in that period and including the effect of interest expense to finance the acquisitions, respectively.

Pro forma results of operations for the current year acquisitions, as if they were combined as of January 1, 2024, have not been presented because they are not material to the Condensed Consolidated Financial Statements.