TIDMBREE

RNS Number : 8319U

Breedon Group PLC

03 August 2020

3 August 2020

BREEDON GROUP PLC

("Breedon" or the "Company")

Completion of acquisition of assets

from CEMEX UK Operations Limited ("CEMEX")

Breedon is pleased to announce the completion on 31 July 2020 of its acquisition of certain assets and operations from CEMEX, as announced on 8 January 2020.

As previously indicated, the Competition and Markets Authority ("CMA") has instructed that these assets should be held separate from Breedon until it has completed its investigation. Accordingly, the assets will be operated as Pinnacle Construction Materials ("Pinnacle"), a newly-created ring-fenced business led by an independent management team and operating from its own offices.

Pinnacle offers a comprehensive range of heavy building materials, including aggregates, asphalt, ready-mixed concrete, concrete products and cement, together with contracting services, from approximately 100 locations in England, Wales and Scotland.

This acquisition brings with it a portfolio of high-quality, well-located operations with a strong team of some 650 employees and a further 170 million tonnes of mineral reserves and resources. It will strengthen Breedon's regional footprint in the UK and provide a platform for future expansion.

The CMA is presently undertaking a Phase 1 investigation, in respect of which the CMA are expected to announce their initial conclusions on or before 26 August 2020. Following the conclusion of the CMA's investigation, which could still take several months, and subject to the outcome of that investigation, the assets are expected to be incorporated into Breedon's UK business.

- ends -

Enquiries:

 
 Breedon Group plc 
  Pat Ward, Group Chief Executive 
  Rob Wood, Group Finance Director               01332 694010 
  Stephen Jacobs, Group Head of Communications 
 
  Cenkos Securities (NOMAD and Joint Broker to    07831 764592 
  Breedon) 
  Max Hartley                                     020 7397 8900 
  Harry Hargreaves 
 
  Numis Securities (Joint Broker to Breedon) 
  Ben Stoop                                       020 7260 1000 
  Heraclis Economides 
 
  Teneo (Public Relations Adviser to Breedon) 
  Matt Denham/Rachel Miller                       020 7420 3180

Note to editors

Breedon Group plc is a leading construction materials group in Great Britain and Ireland. It operates two cement plants and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations. The Group employs nearly 3,000 people and has nearly 900 million tonnes of mineral reserves and resources.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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