EX-99.1
2
alex_gracepacificcompletio.htm
EXHIBIT
ALEX_Grace Release
Contact:
Suzy Hollinger
808.525.8422
shollinger@abinc.com
ALEXANDER & BALDWIN COMPLETES ACQUISITION OF GRACE PACIFIC
HONOLULU - (October 1, 2013) - 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.
"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.
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EX - 99 . 1 2 alex _ gracepacificcompletio . htm EXHIBIT ALEX _ Grace Release Contact : Suzy Hollinger 808 . 525 . 8422 shollinger@abinc.com ALEXANDER & BALDWIN COMPLETES ACQUISITION OF GRACE PACIFIC HONOLULU - ( October 1 , 2013 ) - 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 . " 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 . # # #