Breedon agrees £19m quarries deal

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Construction materials group Breedon Aggregates today agreed to buy four quarries from rival Marshalls for up to £19 million.

Talks over the deal emerged on Wednesday, when Breedon said it was acquiring a range of Scottish assets, including six quarries and four asphalt plants, for £34m from Aggregate Industries.

The sites being sold by Marshalls include the Clearwell limestone quarry in Gloucestershire, along with sand and gravel quarries in Greater Manchester, South Yorkshire and Wales.

Breedon is paying an initial £17.5m for the sites, which will add 13 million tonnes of mineral reserves to its portfolio.

Following the deal, which is subject to shareholder approval, the firm will have 37 quarries and hold 400 million tonnes of mineral reserves.