AG Bonta and the U.S. Department of Justice (U.S. DOJ) announced securing a merger settlement between two concrete companies in California, CalPortland and Vulcan Materials Co. (Vulcan). As originally proposed, the merger between these two companies posed competition concerns, including whether the consolidation of these companies would lessen market competition, leading to higher prices and reduced quality. Today’s settlement addresses concerns of competitive harm and ensures that among other things, CalPortland hires at least 90% of existing Vulcan employees at acquired facilities statewide and divests three ready-mix concrete plants in the San Diego area to a new entrant.

“CalPortland and Vulcan’s proposed merger of concrete operations presented competition concerns, so my office — joined by our federal partners — stepped in. Our settlement today preserves choice, affordability, and jobs for 90% of existing Vulcan employees. We are proud to work with the federal government and with companies willing to come to the table, and we’re proud to have secured an agreement that will keep California’s economy vibrant and its labor force strong. When this happens, consumers, businesses, and California’s economy all benefit.”  -AG Bonta