Belgian family-owned industrial group Lhoist and U.S. building materials giant Martin Marietta Materials (NYSE: MLM) announced a definitive agreement on June 29, 2026, to combine Lhoist North America with Martin Marietta.
The deal creates a leading North American platform in aggregates, calcium-based products, and building materials, leveraging the strengths of both companies to better serve customers and deliver long-term value.
Under the agreement, Financière de Gestions Internationales (FGI), the holding company of Belgium’s Berghmans family, will become Martin Marietta’s largest single shareholder and secure board representation.
FGI’s significant stake underscores its confidence in the combined entity’s future, while Lhoist’s operations in Europe, Latin America, APAC, and MENA will remain fully family-owned, ensuring continued strategic focus and growth in these regions.
The merger is expected to unlock synergies through complementary assets, expanded capabilities, and new opportunities for customers, employees, and shareholders. Baron Berghmans, Chairman of Lhoist Group, called the deal a ‘milestone’, emphasizing the long-term partnership with Martin Marietta while reaffirming Lhoist’s commitment to its global businesses outside North America.
The transaction remains subject to regulatory approvals and customary closing conditions.
Financial advisors for FGI include BNP Paribas, J.P. Morgan, and Rothschild & Co, with Latham & Watkins providing legal counsel.
Martin Marietta is advised by Goldman Sachs, Cravath, Swaine & Moore, and Bredin Prat.
