Knife River Enters Definitive Agreement to Acquire Strata Corporation
Knife Riv Holding Co. (KNF)
Company Research
Source: Business Wire
BISMARCK, N.D.--(BUSINESS WIRE)--Knife River Corporation (NYSE: KNF) announced today that it has entered into a definitive agreement to acquire Strata Corporation, a leading construction materials and contracting services provider in North Dakota and northwestern Minnesota. Based on Strata’s projected 2025 Adj. EBITDA, the purchase price of $454 million reflects a multiple in the high single digits.Founded in 1910, Strata is an aggregates-based, vertically integrated company with over 75 aggregates locations, extensive aggregate reserves and rail assets to bring those reserves to market. The company has 28 ready-mix plants, three asphalt plants and a contracting services division that specializes in asphalt paving and concrete construction. Strata is headquartered in Grand Forks, North Dakota, and will provide infill growth for Knife River’s Central Segment.“Strata is respected among its peers and in its communities, and is well-known for its strong culture and expertise,” said Kn
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News
- Grand Forks construction company poised for $454 million sale in 2025 [Yahoo! Finance]Yahoo! Finance
- Knife River to Expand Footprint With $454M Strata Acquisition [Yahoo! Finance]Yahoo! Finance
- Knife River Enters Definitive Agreement to Acquire Strata Corporation [Yahoo! Finance]Yahoo! Finance
- Knife River Co. (NYSE: KNF) had its price target raised by analysts at Oppenheimer Holdings Inc. from $110.00 to $120.00. They now have an "outperform" rating on the stock.MarketBeat
- Is First Trust Mid Cap Core AlphaDEX ETF (FNX) a Strong ETF Right Now? [Yahoo! Finance]Yahoo! Finance
KNF
Earnings
- 11/4/24 - Miss
KNF
Sec Filings
- 12/26/24 - Form 8-K
- 11/4/24 - Form 10-Q
- 11/4/24 - Form 8-K
- KNF's page on the SEC website