Breedon completes acquisition of Lagan Group

Breedon Group confirmed on Friday that it has completed the acquisition of Belfast-based construction materials business Lagan Group.

The AIM-traded firm said the acquisition was for a cash consideration of £455m, on a cash- and debt-free basis.

“The combination of Breedon and Lagan will create a leading independent construction materials group in the UK and Ireland, and extend Breedon's geographic footprint with immediate critical mass in Ireland and across the entire value chain,” Breedon’s board said in its statement.

“The acquisition also provides Breedon with an enhanced platform for further organic growth and bolt-on acquisitions.”