PR Newswire: news distribution, targeting and monitoring
2014

Alexander & Baldwin Completes Acquisition Of Grace Pacific

Share with Twitter Share with LinkedIn

HONOLULU, Oct. 1, 2013 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE:  ALEX) ("A&B" or "Company") announced that it has completed its acquisition of GPC Holdings, the holding company for Grace Pacific LLC ("Grace").  As a result of the transaction, Grace is now a wholly-owned subsidiary of A&B.

(Logo: http://photos.prnewswire.com/prnh/20120801/LA50085LOGO)  

"The acquisition of Grace will help drive A&B's future growth and success," said Stanley M. Kuriyama, A&B's chairman and chief executive officer.  "With the addition of Grace's natural materials and infrastructure construction business, A&B is a stronger company with an even greater Hawaii focus.  This investment in Hawaii's growing development and construction sector will complement our Hawaii-focused real estate and land stewardship activities, and continue to allow us to capitalize on a broad range of real estate and other growth opportunities in Hawaii.  The addition of Grace also allows the Company to initiate a modest quarterly dividend beginning in the fourth quarter of this year."

"We are pleased to welcome Grace's 560 employees to the A&B family," added Kuriyama.

About Alexander & Baldwin

Alexander & Baldwin, Inc. is a premier Hawaii company, with interests in real estate development, commercial real estate, agriculture, natural materials and infrastructure construction. With ownership of over 87,000 acres in Hawaii, A&B is the state's fourth largest private landowner, and one of the state's most active real estate investors. The Company manages a portfolio comprising eight million square feet of leasable space in Hawaii and the U.S. mainland. It owns and operates the state's only sugar plantation. A&B is also one of Hawaii's largest natural materials and infrastructure construction companies and its largest asphalt paving contractor. Additional information about A&B may be found at www.alexanderbaldwin.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with pages 18-28 of Alexander & Baldwin, Inc.'s 2012 Form 10-K and other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

Contact:
Suzy Hollinger
808.525.8422
shollinger@abinc.com

SOURCE Alexander & Baldwin, Inc.



RELATED LINKS
www.alexanderbaldwin.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release