Maas Group Holdings Limited announced that it has entered into a binding agreement to acquire four hard rock quarries and two sand quarries in the Isaac Region of Central Queensland. The agreement, which is an agreement to acquire the business and assets, is subject to various third-party consents and customary completion conditions with the transaction expected to complete by the end of August 2022. This acquisition was previously noted in MGH's cleansing statement of 19 July 2022.

These quarries primarily service the areas surrounding Clermont, Middlemount, and Dysart, and are expected to produce in excess of 350,000 tonnes of quarry materials per annum. This strategic acquisition further enhances MGH's capabilities in the Central Queensland region which already includes 9 quarries and 4 concrete plants, the recently announced acquisition of Schwarz Excavations, and Ellida, a 2,300+ lot master planned community in Rockhampton. The consideration for the acquisition of $12.75 million, plus an amount for stock of up to $2.2 million to be determined at completion, will be funded from existing cash reserves and debt facilities.