SigmaRoc has agreed to buy AB Dolomitas, a Lithuanian dolomite producer, in a deal worth up to €118m in a move that expands its footprint in the Baltics.
The group said it would pay €110m for the business, plus a further €8m for certain non-core assets, on a cash- and debt-free basis.
Founded in 1964, Dolomitas produces around 3.5 million tonnes a year of high-grade dolomite, a magnesium-rich form of limestone used across SigmaRoc’s markets and increasingly in “green steel” production, and has about 25 years of reserves, with scope to extend that further.
“With the acquisition of Dolomitas we make another significant step forward while delivering against the targets set at our CMD,” said Max Vermorken, CEO of SigmaRoc.
“Dolomitas is a high-quality dolomite business with significant reserves, and an excellent operational track record. A self-contained and asset backed business with the potential for growth in earnings and cash generation, while offering the opportunity for further improvement and synergies.”
Dolomitas generated revenue of €70m and EBITDA of €18m in 2025, a margin of more than 25%.
SigmaRoc, which already operates across Lithuania, Latvia and Estonia, said the acquisition would add scale and products to its Baltic business and was expected to be earnings-enhancing from 2027.
The main €110m consideration comprises €90m in cash and €20m in new SigmaRoc shares, issued to the sellers at 129p and subject to a 12-month lock-up.