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.

During the six months ended June 30, 2025, the Company completed the acquisition of 13 companies. The total cash consideration for these acquisitions, net of cash acquired, was $648 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 June 30, 2025, including adjustments to provisional fair values in respect of acquisitions completed in the previous twelve months, were:


in $ millions			Total (i)
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents			6
Accounts receivable, net			46
Inventories			26
Other current assets			5
Property, plant and equipment, net			274
Equity method investments			(48)
Intangible assets, net			37
Operating lease right-of-use assets, net			19
Total assets			365
Liabilities
Accounts payable			31
Accrued expenses			2
Operating lease liabilities			20


Deferred income tax liabilities			(9)
Other liabilities			34
Total liabilities			78
Total identifiable net assets at fair value			287
Goodwill			371

Total consideration			658

Consideration satisfied by:
Cash payments			654

Deferred consideration (stated at net present cost)			4

Total consideration			658

Acquisitions of businesses, net of cash acquired
Cash consideration			654
Less: cash and cash equivalents acquired			(6)
Total outflow in the Condensed Consolidated Statements of Cash Flows			648

(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 six months to 30 June 2025, together with adjustments to provisional fair values in respect of acquisitions completed during the previous twelve months; none of which were material.

As a result of the acquisitions completed through June 30, 2025, including adjustments to provisional values, the Company recognized $37 million of amortizable intangible assets and $371 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 six months ended June 30, 2025, $324 million is expected to be deductible for tax purposes. The amortizable intangible assets will be amortized against earnings over a weighted average of five years.

On July 29, 2025, the Company announced that it had entered into a binding agreement to acquire Eco Material Technologies (‘Eco Material’), a leading supplier of Supplementary Cementitious Materials in North America, headquartered in Utah, for a total consideration of $2.1 billion. The acquisition is expected to close in 2025, subject to regulatory approval and customary closing conditions.

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		Six months ended
	June 30		June 30
in $ millions	2025	2024	2025	2024
Acquisition-related costs
Substantial acquisition-related (i)	–	2	–	22
Other acquisitions	10	2	15	2
Total acquisition-related costs	10	4	15	24

(i) Represents expenses associated with the non-routine substantial acquisition of a portfolio of cement and readymixed concrete operations and assets in Texas, during the first quarter of 2024.

For the period from acquisition date through June 30, 2025, and June 30, 2024, respectively, acquisitions contributed $134 million and $179 million to Total revenues and a loss of $8 million and $17 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.