Cardi Corporation Assets Sold, Ending Era of Major Rhode Island Road Contractor

Warwick, Rhode Island – The Cardi Corporation, a major road contractor in the state, is nearing the end of its existence. The company’s assets have been sold to J.R. Vinagro, based in Johnston, according to the NBC 10 I-Team.

The purchase by J.R. Vinagro includes Cardi’s headquarters in Warwick, which houses a concrete and asphalt plant, as well as their quarry in West Greenwich and all associated equipment. The transaction also involves the transfer of Cardi workers to J.R. Vinagro, ensuring job continuity for many employees.

Attempts to reach Cardi Corporation executives for comment on the matter have been unsuccessful.

This acquisition marks a significant shift in the Rhode Island construction landscape, as Cardi Corporation was a prominent player in the industry. The move could potentially impact the competitive dynamics among road contractors and related businesses in the state.

The sale of Cardi’s assets to J.R. Vinagro underscores the challenges faced by construction companies in the current economic climate. The industry has experienced disruptions due to the COVID-19 pandemic, with projects delayed or canceled as a result. Consolidation and acquisitions such as this one may become more common as companies navigate these uncertain times.

With the transaction nearing completion, the future of Cardi Corporation appears uncertain, while J.R. Vinagro stands to expand its presence and capabilities in the Rhode Island construction sector.

In summary, Cardi Corporation, a major road contractor in Rhode Island, is in the final stages of dissolution as its assets are being sold to J.R. Vinagro. This includes the company’s headquarters, concrete and asphalt plant, quarry, and equipment. Cardi workers have been offered positions with J.R. Vinagro, ensuring continuity for many employees. The sale highlights the challenges faced by construction companies in the current economic climate and may impact the competitive landscape in Rhode Island.