Business
Acquisition of assets from Tarmac Holdings Limited
Acquisition of assets from Tarmac Holdings Limited.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 1559Z Breedon Group PLC 13 December 2017 \n\n \n \n \n \n NEWS RELEASE\n\n 13 December 2017 \n \n \nBREEDON GROUP PLC (\"Breedon\" or \"the Group\")\nAcquisition of assets from Tarmac Holdings Limited (\"Tarmac\")\n \nBreedon, the UK's largest independent construction materials group, has agreed to acquire from Tarmac - a CRH company - four quarries and an asphalt plant for a total consideration of £16.5 million, to be satisfied by the transfer to Tarmac of 27 of Breedon's ready-mixed concrete plants and a payment of £4.9 million in cash.\n \nThe deal is conditional on approval by the Competition & Markets Authority (CMA).\n \nThe operations to be acquired by Breedon comprise quarries in Scotland, Cumbria and North Wales, together with a quarry and asphalt plant in West Wales. The ready-mixed concrete plants to be divested by Breedon are in multiple locations extending from Dumfries in Scotland to Exeter in Devon. \n \nThe deal is in line with Breedon's strategy of expanding its aggregates portfolio, in this case adding approximately 25 million tonnes to the Group's mineral reserves and resources, and furthering the development of its asphalt capacity. It also streamlines Breedon's readymix network. The transaction is not expected to have a material impact on the Group's earnings.\n \nPat Ward, Breedon's Group Chief Executive, commented: \"This deal brings significant benefits: it adds to our reserve base; it is margin-enhancing; it releas...