Breedon Regulatory News (BREE)

18 May 2023

BREEDON GROUP PLC

Three transactions completed in GB and Ireland

Active M&A pipeline delivering strategic progress

Breedon Group plc (Breedon or the Group), a leading vertically-integrated construction materials group in Great Britain and Ireland, announces the completion of three recent bolt-on transactions with a combined enterprise value of up to c.£19m.

In Northern Ireland the acquisition of Robinson Quarry Masters Limited, a family-run quarrying and concrete block business in Country Antrim, has further extended our footprint North of Belfast. Robinson Quarry Masters enhances our aggregate reserves on the Island of Ireland and has a well-established customer base with exposure to housing, commercial and infrastructure end-markets.

In GB we have acquired two downstream businesses. Broome Bros. Limited is a leading manufacturer of concrete blocks based in Doncaster, adjacent to one of our existing ready-mixed concrete sites and Minster Surfacing Limited is an award-winning regional surfacing business based in Lincoln with strong sustainability credentials delivering a diverse portfolio of works from the Midlands to London.

Rob Wood, Chief Executive Officer, remarked:

"Many of our transactions come to us through our local knowledge and personal engagement with the owners. As a result, our active M&A pipeline has continued to yield high quality, earnings enhancing opportunities that will enable us to progress our sustainable growth strategy.

"Each of these independent family run businesses is aligned with our vertically-integrated operating model, providing further opportunity to pull through upstream building materials while extending our downstream footprint to deliver profitable growth. We are delighted to welcome our new colleagues to Breedon and look forward to working with them." 

Breedon Group plc, a leading vertically-integrated construction materials group in Great Britain and Ireland, delivers essential products to the construction sector. Breedon holds 1bn tonnes of mineral reserves and resources with long reserve life, supplying value-added products and services, including specialty materials, surfacing and highway maintenance operations, to a broad range of customers through its extensive local network of quarries, ready-mixed concrete and asphalt plants.

The Group's two well-invested cement plants are actively engaged in a number of carbon reduction practices, which include utilising alternative raw materials and lower carbon fuels. Breedon's 3,700 colleagues embody our commitment to 'Make a Material Difference' as the Group continues to execute its strategy to create sustainable value for all stakeholders, delivering growth through organic improvement and acquisition in the heavyside construction materials market.

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