Rock of Ages Gets Quarry, Retailer

CONCORD, N.H. – Rock of Ages Corp. announced the acquisition of a North Carolina quarry and a Pennsylvania memorial group in late February in two separate deals totalling more than $4 million.
The company purchased the 104-acre Rockwell White Granite Quarry in Rockwell, N.C. from Rockwell Granite Co., an affiliate of the Marlin Group of Switzerland. Rock of Ages also assumed an 11-year lease held by Rockwell Granite on a 14-acre tract of land with a granite quarry owned by White Granite Inc. adjacent to the Rockwell White quarry.
Both the acquired and leased quarry lands abut Rock of Ages’ Gardenia White quarry, also located in Rockwell. The price for the quarry and equipment was $3.5 million.
“Rock of Ages now owns or leases all of the acreage in North Carolina with permits for the quarrying of granite in the Rockwell white granite formation” says Kurt Swenson, Rock of Ages chairman/CEO. “We believe this transaction will facilitate the production of higher quality blocks through more efficient quarrying of the deposit, as well as more efficient consolidated shipping to block customers around the world.”
Rock of Ages also acquired McColly Memorials, a memorial retailer with sales outlets in Greensburg, Somerset, Johnstown and Kittaning, Pa. for $625,000, which included the land and buildings in Greensburg and Johnstown. The other two locations will be leased from the seller.
In 2004, McColly had sales of approximately $1.6 million.