StockMarketWire.com - Hard landscaping manufacturer Marshalls said it had acquired concrete brick maker Edenhall Holdings for up to £17.2m, while upgrading its annual guidance.

The deal would include an initial cash payment of £11.8m and a deferred consideration of up to £5.4m.

'Marshalls' strategy is to grow both organically and through carefully selected earnings enhancing bolt-on acquisitions with a particular focus on those parts of the market where higher levels of growth are anticipated, including new build housing, road, rail and water management,' chief executive Martyn Coffey said.

'The acquisition of Edenhall represents a significant step towards achieving further growth in the new build housing market.'

Marshalls also said it expected its full-year results to exceed its expectations, driven by better revenue growth in the second half.

Revenue in the 11 months ended 30 November had risen 14% to £465m, the company said.

'The self-help programme to support organic growth is progressing well and the underlying indicators in the new build housing, road, rail and water management markets remain supportive,' it added.








Story provided by StockMarketWire.com