Breedon ( (GB:BREE) ) has provided an announcement.
Breedon Group plc has announced the acquisition of Lionmark Construction Companies LLC for $238 million, a move expected to significantly enhance its US operations. This strategic acquisition will more than double Breedon’s US revenue, diversify its product offerings into asphalt and surfacing, and leverage Lionmark’s established relationships in the road infrastructure market. The transaction promises immediate financial returns and aligns with Breedon’s strategy to expand its presence in the US construction materials market, while maintaining a strong balance sheet.
More about Breedon
Breedon Group plc is a leading vertically-integrated construction materials group operating in Great Britain, Ireland, and the United States. The company supplies essential construction products and services, including specialty materials, surfacing, and highway maintenance, through an extensive network of quarries, ready-mixed concrete, and asphalt plants. Breedon is committed to sustainable practices, including carbon reduction efforts, and is listed on the London Stock Exchange as part of the FTSE 250 index.
YTD Price Performance: -1.68%
Average Trading Volume: 662,081
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.51B
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