Persimmon Acquires South East Housebuilder

RNS Number : 1084O

Persimmon PLC

08 October 2012

 



8 October 2012

Persimmon plc

Persimmon Acquires South East Housebuilder

Persimmon plc today announces the acquisition of Hillreed Homes, a regional housebuilder operating in the south east of England, for a total cash consideration of £35.7m.

Based in Kent and established in 1975, Hillreed Homes focuses on high quality family housing and has a landbank extending to approximately 3,400 plots, including strong strategic land holdings.

Mike Farley, Group Chief Executive, commented:

"Hillreed's focus on high quality family housing is highly complementary to our existing Persimmon, Charles Church and Westbury Partnerships brands and its attractive landbank adds to our already strong regional business in the important south east market.  The acquisition of Hillreed demonstrates our commitment to continued land investment in support of Persimmon's growth strategy." 

-Ends-

For further information, please contact:

Persimmon plc                                                          Citigate Dewe Rogerson

Mike Farley, Group Chief Executive                       Simon Rigby

Mike Killoran, Group Finance Director                   Kevin Smith

Tel: [phone]                                         Tel: [phone]

 

END

 

 

ACQKDLFBLBFZFBX