Heidelberg Materials acquires 70% of Peru's Cementos Inka

Deal overview

Heidelberg Materials has entered into a binding agreement to acquire a 70% majority stake in Cementos Inka, a family-owned cement producer in Peru. The company serves growth regions in Peru based on imported intermediate products and is positioned to complement Heidelberg Materials’ global trading and production network.

Target operations

Caliza Cemento Inca S.A., founded in 2007, employs around 270 people and operates two grinding units with a combined annual capacity of 1.3 million tonnes plus two ready-mixed concrete plants. Its production sites are located near Lima and Pisco, offering market access and efficient port connectivity for raw material imports.

Financials and timing

Based on the anticipated 2026 EBITDA, the transaction is valued at an EBITDA multiple of around 6×. Given its asset-light nature, the acquisition is expected to be highly accretive to Heidelberg Materials’ financial metrics from year one. Both parties have agreed not to disclose further financial terms. The transaction is not subject to regulatory approval and is expected to close by October 2026.

Strategic rationale

Heidelberg Materials intends to build on the existing organisation and its employees, leveraging its comprehensive trading network to address rising demand driven by housing, infrastructure and industrial development in Peru. The company says the selective, asset-light investment aligns with its capital allocation discipline and sustainability objectives.