Breedon Group has completed the acquisition of Hope Construction Materials, thereby creating the UK’s largest independent construction materials group. The deal is worth £336 million.
The 200 person team at the Hope Cement works on Derbyshire have celebrated becoming part of Breedon with a visit from Group Chairman Peter Tom CBE and Group Chief Executive Pat Ward. They were accompanied on a tour of the site by Hope Cement Managing Director Ashley Bryan, and also met members of the workforce.
The iconic Peak District cement works becomes a key asset in the Breedon Group network which has now grown to include around 60 quarries, 27 asphalt plants, just under 200 concrete plants and a major surfacing and road contracting operation. Its combined mineral reserves and resources are in excess of 750 million tonnes, securing the future of the business for decades to come.
This latest acquisition is the biggest development in the Leicestershire-based Group’s short history. It completely transforms the company, creating a truly national business, with operations extending from Stornoway in the far north of Scotland to Exeter in Devon, from Pembroke on the west coast to Great Yarmouth on the east.
Peter Tom – who is also chairman of Leicester Tigers – said: “We’re delighted to complete the acquisition of Hope – it’s a great business and will add a lot of value to everything Breedon has achieved, giving us an even stronger platform for growth through a broader geographical footprint, increased scale, improved product mix, greater financial capacity and some highly talented people. We’re especially pleased that the UK’s biggest – and we think best – cement works is now part of the Group. In addition to its world class performance and high quality products, this operation makes a huge contribution to life the Peak Park and we’re keen to see that continue to develop.
Ashley Bryan has been running the cement works for over eight years, and recently took up his role as Managing Director for Hope Cement which, as well as the cement works itself, includes but connected rail depots around the country, and a brand new cement bagging operation in east London.
Ashley comments: “Hope Works has been part of the Peak Park landscape and economy for over 85 years – today marks an exciting milestone for the works’ future. We are now part of a much bigger group with a successful past and ambitious plans for growth. Cement manufactured here has a long-standing reputation for first-class quality in UK construction and so we are delighted that Hope remains a strong name and brand within the Breedon portfolio.
“The Breedon news coincides with another landmark in the development of the cement business – the launch of our new packed cement. We produce around 1.5 million tonnes of cement each year at the Works. Up until now most of that cement has been delivered in bulk to be used in concrete for larger scale building projects. Now our product can also be bought in bags from builders’ merchants, initially in the southern half of England but hopefully nationwide in the future.”
Ashley continued: “As part of the Breedon ‘family’, the Hope Cement team is looking forward to continuing the development of the cement business, to growing the already significant contribution we make to the Peak District National Park economy, and enhancing the benefits we bring to the communities around our operation.”
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/05082016/breedon-completes-acquisition-of-hope-49/
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