UK-based Breedon has entered into a conditional agreement to acquire Belfast construction materials business Lagan Group for a total cash consideration of £455m ($651m) as part of a strategy to create an independent construction materials group.
Additionally, the partnership aims to extend Breedon's geographical footprint with immediate critical mass in Ireland and across the entire value chain. The transaction is also said to provide the company with an improved platform for bolt-on acquisitions.
More information is available here.
