Persimmon PLC
22 February 2000
ACQUISITION OF TILBURY DOUGLAS HOMES LIMITED
FROM TILBURY DOUGLAS PLC
Persimmon plc, one of the largest UK housebuilders, has today completed the
acquisition of Tilbury Douglas Homes Limited from Tilbury Douglas plc for a
total cash consideration of £19.5m. Persimmon will acquire as part of this
transaction 16 new sites to add to their already existing developments in
Scotland plus a significant involvement in partnership housing, extending this
area of activity for Persimmon in Scotland.
The acquisition of Tilbury Douglas Homes Limited adds approximately 1,000
plots to Persimmon's Scottish landbank which now totals 3,100 plots with
Planning Permission.
In 1999 Persimmon completed approximately 600 homes in Scotland and Tilbury
Douglas Homes approximately 400. We expect to complete well over 1000 homes
in Scotland during 2000.
John White, Group Chief Executive of Persimmon, said: 'Persimmon has achieved
tremendous growth in Scotland having significantly increased market share
through organic growth and acquisition. Our last acquisition from Laing Homes
was successfully integrated and I believe that the Tilbury Douglas acquisition
will provide similar support to further improve growth and profitability.'
Persimmon plc's preliminary results for the year ended 31 December 1999 will
be announced on Monday 6 March 2000.
Enquiries: John White, Group Chief Executive, Tel: 01904 642199
Mike Killoran, Group Finance Director, Tel: 01904 642199
John Millar, Regional Chairman, Tel: 01698 457117
Michael Sandler/Justin Strong, Hudson Sandler, Tel: 020 7796 4133
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