LONDON: Breedon Group plc, a leading vertically-integrated construction materials group in Great Britain, Ireland and the United States, announced that it has completed the acquisition of Falling Springs Quarry for an enterprise value of $120m (£90m).
Falling Springs is a well-invested, highly automated quarry with 185 million tonnes3 of limestone reserves strategically located approximately 15 minutes from downtown St Louis, Missouri, a statement said.
The quarry has an output of over 2.2 million tonnes per annum and will be integrated with Breedon’s existing operations in the region, enhancing the Group’s US platform and unlocking opportunities for further growth through vertical integration.
The Transaction is expected to be immediately margin and earnings enhancing4 and was funded through Breedon’s existing Revolving Credit Facility. Following the Transaction, the Group’s pro-forma covenant leverage5 at 31 December 2025 would have been 2.0x which remains in line with the Group’s financial framework.
The acquisition is in line with Breedon’s stated strategy to expand through disciplined, value-accretive M&A as the Group scales its US business.
Rob Wood, Chief Executive Officer of Breedon Group plc, commented: “The acquisition of Falling Springs Quarry represents an attractive bolt-on investment which strengthens our US platform with a premium aggregates asset in an exceptionally strategic location.
The business is well-invested, highly cash generative and extremely complementary to our existing operations in the St Louis area, supporting our long-term growth ambitions in the United States.”
Breedon Group plc, a leading vertically-integrated construction materials group in Great Britain, Ireland and the United States, delivers essential products to the construction sector. Breedon holds 1.7bn tonnes of mineral reserves and resources with long reserve life, supplying value-added products and services, including specialty materials, surfacing and highway maintenance operations, to a broad range of customers through its extensive local network of quarries, ready-mixed concrete and asphalt plants.
The Group’s two well-invested cement plants are actively engaged in a number of carbon reduction practices, which include utilising alternative raw materials and lower carbon fuels. Breedon’s 4,800 colleagues embody our commitment to ‘Make a Material Difference’ as the Group continues to execute its strategy to create sustainable value for all stakeholders, delivering growth through organic improvement and acquisition in the heavyside construction materials market. Breedon shares (BREE) are traded on the Main Market of the London Stock Exchange and are a constituent of the FTSE 250 index.
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