Aggregate Industries complete five more acquisitions

"AS part of their ongoing UK expansion strategy, Aggregates Industries have announced the completion of five more acquisitions for a total cash consideration of £12 million, bringing to 12 their total number of acquisitions in the UK in 2002."

"The latest purchases comprise the businesses of GFX Hartigan Ltd, Border Stone Ltd, Central Coated Stone, the bagging business of Francis Flower and a 50% share in Sewells Reservoir Construction Ltd. All five businesses represent complementary additions to Aggregate Industries’ core operations, enhancing their positions in ready-mixed concrete, aggregates, asphalt and decorative products."

"GFX Hartigan is one of the largest independent suppliers of building materials, particularly ready-mixed concrete and sand and gravel, in the Midlands, while Welshpool-based Border Stone will strengthen Bradstone’s position in the decorative aggregates market. Operating from Newark, Central Coated Stone will extend Aggregate Industries’ asphalt operations and Express Asphalt brand, while the Francis Flower business will fit well with the company’s Quarrypak operation."

"Sewells Reservoir Construction, whose core business is the extraction of sand and gravel in the construction of reservoirs for agriculture, have the second-largest mineral holding in Essex. Aggregate Industries’ 50% share will strengthen the company’s position in this market, as well as supporting their existing activity in the area and augmenting the acquisition earlier this year of Karrimix and Bradwell Aggregates."

"Bill Bolsover, Aggregate Industries’ UK managing director, commented: ‘These transactions continue our successful strategy to grow organically and through bolt-on acquisitions at sensible prices.’"