Breedon Group has completed an asset swap with Tarmac, acquiring three quarries and a quarry with asphalt plant in exchange for 23 ready-mixed concrete plants and £6.1 million cash. The deal secures 25 million tonnes of additional mineral reserves and around 50,000 tonnes of annual asphalt capacity.
Breedon Group agreed to acquire most of Lagan Group's assets, including Whitemountain, Lagan Cement, Lagan Brick, Lagan Asphalt and Welsh Slate, for £455 million on a cash and debt free basis. Lagan Homes is not included.
The UK Competition and Markets Authority investigated the anticipated acquisition by Tarmac Trading Limited of certain assets of Breedon Group plc. The case was opened on 1 February 2018 and later cleared with undertakings in lieu.