The merge will see the formation of Barratt Redrow PLC

Major housebuilders Barratt and Redrow announce £2.5bn merger



Barratt Developments has announced today (7th January) it has agreed the terms for a £2.5bn merger with Redrow PLC.


Once the transaction — which will result in the merged companies being renamed to Barratt Redrow PLC — is completed, Redrow shareholders will have circa 32.8% of the combined group while Barratt shareholders will hold approximately 67.2%.

On the announcement of the merger, Barratt Developments 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, subcontractors, 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.”

Commenting on the merger, Steve Morgan, founder of Redrow, stated: "During the 50 years since I founded Redrow, I could not be more proud of the unique reputation it has earned for building premium homes and thriving communities.

“Barratt is a homebuilder I have long admired due to their likeminded attention to quality.

“I am confident that the Barratt/Redrow combination with their three high-quality complementary brands, will create a standout homebuilder for the future and accelerate the delivery of much needed homes across the UK."

 



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