Breedon enter joint venture with H.V. Bowen
Acquisition of 50% stake in family firm provides access to high-PSV stone reserves in mid-Wales
BREEDON Aggregates, the UK’s largest independent aggregates business, have acquired a 50% interest in H.V. Bowen & Sons (Holdings) Ltd, owners and operators of Tan-y-Foel Quarry near Welshpool.
The deal will provide Breedon with an interest in approximately 3.4 million tonnes of strategically important high polished stone value (PSV) aggregates, sources of which are very scarce. Tan-y-Foel has some of the highest-quality (+68 PSV) reserves in the country.
The business will continue to trade as H.V. Bowen and will be jointly managed by Breedon Aggregates England Ltd and the Bowen family, who have owned and operated the quarry for more than 70 years. H.V. Bowen also operate a ready-mixed concrete plant at the quarry.
Breedon already own a sand and gravel quarry near Mold, in North Wales, and the joint venture with H.V. Bowen expands the company’s operations into mid-Wales for the first time. The investment has been funded in cash from the Group’s own resources.
Commenting on the investment, Tim Hall, chief executive of Breedon Aggregates England, said: ‘We’re pleased to have secured access to some of the highest-quality PSV stone in the country, which will provide a ready supply of this key aggregate to our asphalt plants. It will also enable us to extend our reach into an important new market for aggregates and readymix.’