The UK’s Breedon Aggregates has purchased Huntsmans Quarries Ltd for a cash consideration of £15 million. Huntsmans operates a limestone quarry and ready-mixed plant in Naunton, UK, along with a ready-mixed concrete facility in Worcestershire and a 20-strong fleet of haulage and mixer trucks. In addition, the company owns three dormant quarries. Naunton comprises 4 million t of planned mineral reserves, with the possibility for a further 6 million t.
Huntsmans recorded an EBITDA of around £2 million in 2013, selling 300 000 t of aggregates and generating sales worth £8 million. The acquisition will enable Breedon to strengthen its presence in the Cotswolds and gain a foothold in Worcestershire’s concrete market.
“This is exactly the kind of acquisition we’re always on the lookout for. It builds our regional presence, extends our product range and gives us access to new markets, whilst adding further value for our shareholders. The Company is continuing to pursue other similar opportunities elsewhere in the UK,” said Peter Tom CBE, Breedon’s Chairman.
Adapted from press release by Louise Fordham