Breedon to Buy Assets of C&G Concrete
The purchased assets include a substantial and strategically valuable sand and gravel operation at Norton Bottoms in Lincolnshire.
The acquisition links Breedonâ€™s existing operations in the East Midlands and East Anglia and significantly enhances its reserves and the scale of its ready-mixed concrete business.
Peter Tom, executive chairman at Breedon, said: â€œWe are delighted to have secured such a high quality business as our first bolt-on acquisition and look forward to welcoming C&G's employees into the group. C&G has a strong market position and excellent asset base in Lincolnshire and South Humberside and we see significant growth potential in the business.
"We also expect to be able to deliver useful synergy savings and operational improvements following the acquisition. We continue to review a number of other acquisition opportunities as we seek to build on the excellent platform we have created in Breedon Aggregates."
C&G operates three sand and gravel quarries and 13 ready-mixed concrete and mortar plants in Lincolnshire, Cambridgeshire and Humberside. It also owns a number of other assets, including a farm of 286 acres with planned mineral deposits near Woodhall Spa in Lincolnshire. It employs around 130 people.
Following the acquisition of C&G Concrete, Breedon Aggregates operates 26 quarries, 18 asphalt plants and 40 concrete (including mortar) plants in England and Scotland and employs approximately 830 people.
Will the acquisition benefit Breedon Aggregates?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.