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News » UK » Bolt-on acquisition for Breedon » published 1 Aug 2017

Bolt-on acquisition for Breedon

Breedon has taken over Humberside Aggregates Ltd for £9m.

Humberside Aggregates is an independent sand & gravel quarry and aggregates merchanting business based at North Cave near Hull. It has approximately 3.1 million tonnes of mineral reserves, with the potential to secure additional reserves in the future.

Humberside employs around 30 people and in the year to 30th April 2017, it reported an underlying EBITDA of £2.1m on revenues of £14.9m. 

Breedon chief executive Pat Ward said: "This acquisition provides Breedon Southern with a valuable source of aggregates in the important markets of East Yorkshire and Humberside, where we already operate a sizeable ready-mixed concrete business.  It will enable us to create value by internalising the supply of sand and gravel to our network of readymix and mortar plants, whilst serving a strong existing customer base throughout the region.

"Humberside also operates a successful merchanting business, supplying limestone to builders' merchants in the region.  A proportion of this material currently comes from Breedon's quarry at Holme Hall, giving us the opportunity to optimise these volumes and benefit from improved logistics planning.”

 

 

MPU

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This article was published on 1 Aug 2017 (last updated on 1 Aug 2017).

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