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Gloucestershire Business News

Housebuilder with Gloucestershire base completes £1billion acquisition of rival

The billion-pound deal that will see Bovis Homes acquire Linden Homes has been completed.

In an announcement made late last week, Bovis Homes PLC - who have a regional office in Bishop's Cleeve - announced the completion of a deal with Galliford Try PLC.

The deal will see the Linden Homes brand come under Bovis' remit, with Galliford Try's Partnerships and Regeneration business also part of the acquisition.

After announcing the deal, Bovis confirmed a change of name of the new larger housebuilding group to Vistry PLC, although both the Bovis Homes and Linden Homes brands will continue.

Greg Fitzgerald, CEO of Bovis Homes, said: "I am delighted that we have completed the exciting and transformational acquisition of the Linden Homes and Partnerships and Regeneration businesses of Galliford Try plc.

The combination of these businesses with Bovis Homes creates a top five housebuilder in the UK with the capacity to deliver over 12,000 homes per year in the medium term.

"It also gives us a leading position in the high-growth, more resilient partnerships market. Within the enlarged business, our commitment to ensuring the highest levels of build quality and customer satisfaction will remain central to everything we do.

"We would like to thank all shareholders for their engagement in this process and look forward to delivering the clear strategic and financial benefits of this combination.

"Finally, I would like to extend a very warm welcome to all our new colleagues and thank everyone collectively for their continued hard work and focus on our customers during this busy period."

Graham Prothero, previously chief executive officer of Galliford Try has been appointed as chief operating officer of the Vistry Group.

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