FTSE 250 paving stone manufacturer Marshalls is set to acquire roof tile manufacturer Marley Group in a deal worth £535m.
The garden materials maker struck a conditional deal to acquire Marley, in line with its plans to “become the UK’s leading manufacturer of products for the built environment.”
The West Yorkshire headquartered firm said Marley “represents a compelling strategic fit” with its business as it claimed the acquisition will help it extend it into the pitched roofing market.
Marshalls noted that the century-old roofing firm now offers a range of products including garden decking, roof accessories, and solar panels.
The hard landscaping products seller, which was first set up by York stonecutter Solomon Marshall in 1880, said both it and Marley have pursued similar business strategies by focusing on selling their products to the UK’s major builders’ merchants.
Marshalls also said the deal will strengthen its exposure to the UK construction market as it claimed the underlying business will be strengthened in the long term by the UK’s ageing housing stock.