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Granite Subsidiary Acquires Cinderlite Trucking Corporation

1. Granite's subsidiary acquires Cinderlite, enhancing its construction materials offerings. 2. The acquisition aligns with Granite's strategy in northern Nevada's busy construction market.

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-0.5%Current Return
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+0.29%S&P 500
$109.2510/06 08:51 AM EDTEvent Start
$108.710/06 11:29 AM EDTLatest Updated
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FAQ

Why Bullish?

Acquisitions often lead to increased revenue streams and market share, exemplified by previous successful acquisitions in the construction sector. This strategic move in a growing market signals potential future growth for GVA.

How important is it?

The acquisition indicates a significant strategic move, aligning with market opportunities and potentially enhancing future revenues, boosting investor confidence.

Why Long Term?

The acquisition will likely take time to integrate fully and realize synergies; historical examples show that successful acquisitions can lead to significant growth over a multi-year timeline.

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WATSONVILLE, Calif.--(BUSINESS WIRE)--A Granite (NYSE: GVA) subsidiary, Centennial Aggregate Inc. has acquired Cinderlite Trucking Corporation (“Cinderlite”), a leading construction materials, landscape supply, and transportation company in Carson City, Nevada. “I am happy to announce the acquisition of Cinderlite,” says Granite President and CEO, Kyle Larkin. “It is a great construction materials business that is aligned with our home market strategy in the busy northern Nevada construction la.

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