Â£336million deal cements Hope's future at forefront of building industry
Executives at one of Hope's leading firms are celebrating the closure of a Â£336 million deal to cement their place in the UK construction industry.
After months of negotiations, Breedon Group plc has completed the acquisition of Hope Construction Materials to create the country’s largest independent construction materials group.
The iconic Peak District cement works becomes a key asset in the Breedon network, which now includes some 60 quarries, 27 asphalt plants, just under 200 concrete plants and a major surfacing and road contracting operation.
Group chairman Peter Tom visited Hope last week to meet the 200-strong workforce and said: “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.”
Hope’s managing director Ashley Bryan said: Ashley comments: “Hope Works has been part of the local landscape and economy for more than 85 years – today marks an exciting milestone for the its 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 brand within the Breedon portfolio.”
The Leicestershire-based Breedon group now has combined mineral reserves and in excess of 750 million tonnes.
The announcement of the deal coincided with the launch of Hope’s packed cement into builder’s merchants in selected regional markets.