2nd Dec 2009 07:00
GALLIFORD TRY ACQUIRES ROSEMULLION HOMES
Galliford Try plc, the housebuilding and construction group, is pleased to announce the acquisition of Rosemullion Property Company Limited and its subsidiaries, trading as Rosemullion Homes, a well established housebuilder based in Cornwall with a strong reputation for developing quality homes for its local markets. Rosemullion Homes secured the 'What House?' Housebuilder of the year award in 2008.
The acquisition will add 9 sites to Galliford Try's existing business in the south west of England, comprising 24 units under development and a landbank of 132 units. In its last financial year to 31 December 2008, Rosemullion Homes turnover was £7.5 million. The consideration, which Galliford Try will be settling in cash from its existing resources, is £0.2 million.
Greg Fitzgerald, Chief Executive of Galliford Try plc, commented:
"Rosemullion Homes is an excellent example of an opportunity to acquire a quality local housebuilder in line with our strategy of growing our housebuilding business both in and adjacent to our existing areas of operation across the south of England".
For further information please contact:
Greg Fitzgerald, Chief Executive 01895 855219
Frank Nelson, Finance Director 01895 855226
Kerry Chadwick, PR Manager 01895 855153
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Galliford Try