In a bold play to strengthen its presence in America’s booming infrastructure market, Commercial Metals Co. (CMC) announced plans to acquire Foley Products Co. for $1.84 billion in cash, a move that will immediately expand its footprint and earnings power.

Advised by Akin Gump Strauss Hauer & Feld LLP, CMC said Thursday the deal—pending regulatory approval and closing conditions—will instantly enhance its earnings per share and free cash flow once finalized.

Foley, based in Georgia, operates 18 facilities across nine states, specializing in precast concrete products critical for drainage, water management, and road construction projects nationwide.

“A Unique Opportunity to Build Scale,” Says CEO

Calling the move a strategic leap forward, CMC President and CEO Peter Matt described the acquisition as a “unique opportunity to create immediate scale” within the company’s growing precast division.

“Adding a best-in-class business with industry-leading margins to CMC’s portfolio not only strengthens our platform but also positions us to serve a wider customer base across vital infrastructure markets,” Matt said in the announcement.

The acquisition of Foley follows closely on the heels of CMC’s $675 million deal to acquire Concrete Pipe & Precast LLC (CP&P) from Eagle Corp. and ECPP LLC, announced just last month.

Building a Precast Powerhouse

With both acquisitions completed, CMC will operate 35 facilities across 14 states, forming what it calls the third-largest precast platform in the United States—a dominant force in the Mid-Atlantic and Southeast regions.

“We believe precast has significant value creation potential for CMC,” Matt added. “The addition of Foley will help unlock further upside from our pending acquisition of CP&P, allowing us to deliver even greater value to customers through a broader portfolio of mission-critical precast applications.”

Legal Counsel and Industry Impact

CMC’s legal team is being led by Akin Gump partners Garrett DeVries and Eric Williams, joined by partner Alison Chen.

Foley Products Co.—a long-standing regional leader in precast solutions—did not immediately comment on the deal, and legal counsel for the company has not yet been disclosed.

Industry analysts say the twin acquisitions mark a turning point for CMC, signaling a clear pivot toward diversified infrastructure solutions beyond traditional metal fabrication. With U.S. infrastructure investment surging, the deal cements CMC’s position as a top-tier supplier ready to shape the next era of American construction.