Knife River (KNF) said Monday it has completed its $454 million acquisition of rival construction materials supplier.

Knife River said it has started the process of integrating Strata's operations and expects the deal to produce profitable returns beginning this year. Knife River will update its 2025 financial outlook when it reports its Q1 results later this spring, the company added.

The company said it used a portion of the proceeds from a new $500 million term loan B along with cash on hand to fund the transaction.

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