Update on Acquisition

RNS Number : 8139C

Breedon Aggregates Ld

30 June 2016

 

   News release

30 June 2016

Breedon update on acquisition

of Hope Construction Materials

Breedon Aggregates ("Breedon") welcomes today's announcement by the Competition and Markets Authority (CMA) that, subject to consultation with interested parties, it proposes to accept the undertakings offered by Breedon in lieu of a Phase 2 reference of its acquisition of Hope Construction Materials ("the Hope acquisition").

Subject to final confirmation by the CMA following its consultation on acceptance of the undertakings offered by Breedon, Breedon expects to be in a position to complete the Hope acquisition in early August 2016.

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Enquiries:

Breedon Aggregates Limited	Tel: [phone]
Pat Ward, Group Chief Executive Rob Wood, Group Finance Director
Stephen Jacobs, Head of Communications	Tel: [phone]
Cenkos Securities plc (Nomad and joint broker) Max Hartley	Tel: [phone]
Peel Hunt LLP (Joint broker)	Tel: [phone]
Justin Jones/ Mike Bell

Note to Editors

Breedon Aggregates is the leading independent aggregates business in the UK after the four global majors.  It operates more than 50 quarries, nearly 30 asphalt plants, over 60 ready-mixed concrete plants and three concrete block plants in England and Scotland and employs around 1,240 people.  The Group has strong asset backing, with over 500 million tonnes of mineral reserves and resources in the UK.  Breedon Aggregates' strategy is to grow through consolidation of the UK heavyside building materials sector.

In November 2015 Breedon announced its intention to acquire Hope Construction Materials for £336 million.  The acquisition will create the UK's largest independent building materials group, with the country's largest cement plant, around 60 quarries, nearly 200 ready-mixed concrete plants and approximately 750 million tonnes of mineral reserves and resources.

 

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