CRH Pays Nearly 40% More for Arcosa Than Arcosa Paid for Cherry—Here's Why

CRH's $8.5 billion bid values Arcosa at 11.5x forward earnings—nearly double the multiple Arcosa paid for Cherry Companies in 2020. The gap reflects two things: bigger buyers get better valuations, and the market is scarce on quality aggregates and U.S. infrastructure plays. It signals how aggressively consolidators are betting on long-term infrastructure spending.