Calgary-based Burnco acquires large Fort McMurray limestone quarry

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One of Western Canada’s largest limestone quarries is now owned by Calgary-based Burnco Rock Products Ltd. after the company announced Thursday that it had acquired a Calgary-based company owned by a New York-based private equity firm.

Burnco — a fourth-generation family business founded in 1912 — said Thursday that it has entered a share purchase agreement with Brookfield Business Partners, the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group, to acquire Calgary-based Hammerstone Infrastructure Materials Ltd.

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Until Thursday, Hammerstone owned the Hammerstone Quarry, a limestone deposit located north of Fort McMurray. The quarry has over 750-million tonnes of limestone reserves, “representing generations of supply,” BURNCO said in a release.

Burnco, a private company, did not disclose the sale price or financial details around the acquisition. However, the acquisition means a Canadian company will be in full control of Hammerstone Quarry.

Hammerstone currently employs 110 people.

“The Hammerstone business is a natural fit within our broader aggregates position in Alberta and expands our geographic and operational footprint in the province,” said Tom Zais, Burnco’s chief executive officer.

Hammerstone president and CEO Nick Laganiere said the company is “extremely pleased” with the acquisition and expressed optimism that BURNCO will steward the business into the future.

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