LONDON (ShareCast) - UK aggregates business Breedon has bought North Cotswolds-based peer Huntsman's Quarries for £15m in cash, expanding in Gloucestershire and into Worcestershire.

Huntsman's, which operates a limestone quarry and two ready-mixed concrete plants in Naunton and Evesham, gives Breedon "access to the affluent and buoyant Cotswolds market, together with a new presence in the north Worcestershire concrete market".

The assets also include a fleet of 20 haulage and mixer trucks and three further dormant quarries.

Huntsman sold over 300,000 tonnes of aggregates in 2013, generating sales of £8m.

"Huntsman's is a well-run business making good margins in a strong local market," said Breedon's Chairman Peter Tom.

"We see great potential both for the quarry and for the newly refurbished concrete plant at Evesham, which has just reopened, and also expect to secure some useful synergies and cost savings."

Tom said this is "exactly the kind of acquisition we're always on the lookout for" as it expands the group's regional presence, extends its product range and gives it access to new markets.

BC

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