Completion of the acquisition of Lagan Group

RNS Number : 6544L

Breedon Group PLC

20 April 2018

 

20 April 2018

BREEDON GROUP PLC ("Breedon")

Completion of the acquisition of Lagan Group (Holdings) Limited

Further to the announcement on 17 April 2018, Breedon is pleased to announce that it has completed the acquisition of Lagan Group (Holdings) Limited ("Lagan"), a leading construction materials business based in Belfast, for a cash consideration of £455 million on a cash- and debt-free basis (the "Acquisition").

The combination of Breedon and Lagan will create a leading independent construction materials group in the UK and Ireland, and extend Breedon's geographic footprint with immediate critical mass in Ireland and across the entire value chain.  The Acquisition also provides Breedon with an enhanced platform for further organic growth and bolt-on acquisitions.

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Note to editors

Following the acquisition of Lagan, Breedon is a leading construction materials group in the UK and Ireland. The Group operates two cement plants and around 70 quarries, 40 asphalt plants, 200 ready-mixed concrete and mortar plants, nine concrete and clay products plants, four contract surfacing businesses, six import/export terminals and two slate production facilities.

The Group employs nearly 3,000 people and has around 870 million tonnes of mineral reserves and resources.  The Group's strategy is to continue growing organically and through the acquisition of businesses in the heavyside construction materials market.

Enquiries:

Breedon Group plc Pat Ward, Group Chief Executive Rob Wood, Group Finance Director Stephen Jacobs, Head of Communications	Tel: [phone] Tel: [phone]
Moelis & Company (Financial Adviser to Breedon) Mark Aedy Liam Beere Rich Newman	Tel: [phone]
Cenkos Securities (NOMAD and Joint Broker to Breedon) Max Hartley Oliver Goad	Tel: [phone]
Numis Securities (Joint Broker to Breedon) Heraclis Economides Ben Stoop	Tel: [phone]

 

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