Brickworks (ASX:BKW) to acquire Redland Brick

Company News

by Katrina Bullock

A US subsidiary of building and investment company Brickworks (ASX:BKW) has penned a binding agreement to acquire the assets of Redland Brick for approximately $70 million.

The sale includes five production lines across four manufacturing sites - two in Maryland, one in Pennsylvania and one in Virginia.

The sites boast cumulative sales of around 80 million bricks per year.

The purchase is expected to deliver 3 per cent earnings per share accretion within three years.

Shares in Brickworks (ASX:BKW) are trading 0.3 per cent higher at $18.47.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.