Luck Stone acquires N.C. company, 2 quarries
The Goochland crushed stone producer gained quarries in Mount Airy and Eden
Published
Goochland County-based crushed stone producer Luck Stone acquired North Carolina-based Ararat Rock Products Co. and its quarries in Mount Airy and Eden, the company announced Thursday.
Financial details of the transaction were not disclosed.
The acquisition expands Luck Stone’s presence in North Carolina beyond its quarry operation in Pittsboro. On Oct. 1, ownership transferred to Luck Stone, and the two quarries, Mount Airy and Eden Plant, are now open for business.
“The acquisition of Ararat Rock Products is incredibly meaningful to our organization as it represents tremendous growth opportunities for many, including our associates, customers and these great communities we are joining,” Luck Cos. President and CEO Charlie Luck said in a statement.
“Big Jim” Crossingham founded Ararat Rock Products in 1955. Third-generation family member James Crossingham most recently led the company.
“I am very proud of Ararat Rock Products and what our family has built over the last 66 years in this business,” Crossingham said in a statement. “Luck Stone is a first-rate outfit, and I feel strongly that I am leaving our customers and employees in the best of hands.”
In 2018, Luck Stone acquired the Will Oak quarry in Kershaw County, South Carolina, and the Stephens Industries quarry in Atlanta.
“Building on our recent growth momentum in South Carolina and Georgia, this exciting expansion in North Carolina is in direct alignment with our people-focused growth strategy, which drives us to pursue opportunities that allow us to make a positive impact on people and in communities where we conduct business,” Luck Cos. Chief Growth Officer John Pullen said in a statement.
Luck Stone produces crushed stone, sand and gravel and is the largest business of the family-owned Luck Cos., composed of Luck Stone, Luck Ecosystems and Luck Real Estate Ventures. Charles Luck Jr. founded Luck Cos. in 1923, and Charlie Luck IV leads the company today.
Related Stories
CarMax to acquire remaining stake in Edmunds
Goochland County company buys auto site in cash, stock deal
The Hilb Group makes 10th acquisition within past year
Henrico-based insurance company buys Mich.-based CIA Financial Group Inc.
Altria to sell winemaking division for $1.2B
Washington-based Ste. Michelle Wine Estates brands include Chateau Ste. Michelle, 14 Hands, Columbia Crest
