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Barratt Developments to buy Redrow plc

Barratt Developments has announced plans to merge with Redrow plc in a £2.5bn deal which will see the formation of a new business - Barratt Redrow.


Barratt Developments to buy Redrow PLC

The two companies have reach an agreement which has been supported by both boards and is expected to create the UK's biggest housebuilder with a turnover above £7bn.


In a statement David Thomas, Chief Executive of Barratt Developments PLC said: "We believe that the combination will create an exceptional UK housebuilder in terms of quality, service and sustainability, delivering excellence and driving innovation for customers, employees, sub-contractors and the supply chain.


"The combination will bring together two companies with highly complementary geographic footprints and three highly respected brands – Barratt Homes, David Wilson Homes and Redrow – with which to accelerate the delivery of much-needed housing across the UK and provide the opportunity for shareholders to participate in future value creation in the combined group."


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