Building materials giant CRH is spending almost €260 million on buying four US companies.

The Irish group said yesterday that its US materials division has bought four rivals for a total of $350 million (€258 million). The four, all involved in producing and distributing materials such as asphalt, sand and gravel, had earnings last year of $53 million on sales of $360 million.

CRH said the intangible assets, mainly goodwill, arising from the purchases will be $140 million.

The first acquisition is Florida-based Conrad Yelvington Distributors, which distributes building materials such as sand, gravel and stone (known as aggregates) through a network of 27 rail terminals in Florida, Mississippi, Alabama and Michigan.

In a statement, the Irish parent said this would complement Apac, the asphalt and road materials producer it bought last year for a record €1 billion. The US division's west region is responsible for the second and third purchases, Eugene Sand and Gravel in Eugene, Oregon in the northwestern US and Cessford Construction, which operates in central and eastern Iowa and central Illinois, both in the midwest.

Both businesses are involved in supplying aggregates, ready-mixed concrete and paving.

CRH's fourth purchase, McMinn's Asphalt and Prospect Aggregates, is in the same business. The company is based in Lancaster, Pennsylvania.

Analysts welcomed the news but left their predictions for the group unchanged. Goodbody said CRH looked likely to spend €2 billion this year on acquisitions.

CRH chief executive, Liam O'Mahony, described Conrad Yelvington as a "superb fit" with the group's Florida operations.

"The other three transactions are in keeping with our ongoing strategy of adding strong, well-managed businesses with good market and reserve positions to our existing materials operations across the US," he added.