It’s been an eventful couple of weeks, and we’ve received a lot of great questions about the planned combination. Going forward, I will focus these monthly blogs on updating you on the combination of Argos North America and Summit Materials.

I’d like to start today with an important question that sets the tone for the agreement: why did we choose the word combination over other common terms for these types of transactions? The word “combination” was a very deliberate choice – not a legal or technical term – but a word that captures the spirit of how powerful our two companies are together.

I have been a huge advocate for this deal from the beginning for this reason. In our last High Five, we talked about our desire to be a larger aggregate supplier, and we are accelerating that strategy with Summit – already one of the country’s largest aggregate producers. The combination also will propel our alternative fuel plans as Summit is the industry leader for the use of alternative fuels in the US.

Summit is equally as enthusiastic about the resources we are bringing to the table. They are excited to have access to the attractive Southeast construction markets, our excellent port and terminal networks and our cement and ready-mix footprints.

We still have a lot of work to do to close the deal and actualize these benefits, and until then, we will continue to operate as two separate companies. We must maintain safeguards around Argos’ confidential information, including specific customer and supplier pricing and other highly sensitive information, that in the absence of a proposed combination, we would not typically share with Summit.

In the meantime, there are three things I want to emphasize going forward:

• Please continue to share your questions. We may not know all of the answers now, but we are committed to sharing what we do know. We will address each and every one of them as soon as we can.
• Secondly, I always say my job is to help make sure your incentive payout is as large as possible. We are on a great track to make that happen. Stay focused on the business and let’s work together to finish the year strong.
• Last, I recognize what a big distraction this announcement is and understand that it can feel very disruptive. Let’s adopt a business-as-usual mindset, and continue to make safety, our customers and our fellow employees, our top priority.

It is more important than ever that we communicate. We are planning our next High Five Town Hall where we will focus on answering your questions. In the meantime, I’ve included answers to some of the top questions we’ve received.  

Be safe,
Simon

Other common questions:

Will we still operate under the Argos brand?

Once the transaction closes, we will move into an integration phase that will guide how we work together and how we will go to market. At this point, no decisions have been made regarding the Argos brand.

Where will our corporate headquarters be?

Summit Materials will be headquartered in Denver, Colorado.

What does this mean for employees in Alpharetta?

We understand that this question is top of mind for many of our employees in Alpharetta. No decisions have been made about how the Alpharetta corporate headquarters will integrate with the larger organization. We will share information and updates with you as soon as they are available.

What does this mean for our benefits? Annual enrollment?

The combined organization will go through an integration process once the transaction closes. At that time, it will look at the best way to combine things like benefits, technology, etc. Open enrollment will proceed as planned, and you will receive the benefits you signed up for until these types of decisions are made after the closing.

What will the integration process look like prior to close?

At this time, the formation of integration teams and integration process generally is still in the planning stage. However, it is important to note that integration will be a formal process directed by senior leadership in consultation with the legal team. Without authorization from senior leadership, you should not reach out to your counterparts at Summit to begin or discuss integration, and you should notify senior leadership if Summit individuals reach out to you directly.