Miller Homes has agreed to buy St Modwen Homes in a £215m deal.
The deal sees Miller Homes acquire 19 live sites, totalling around 3,500 plots for new homes, and a further five strategic sites, growing its business in the West Midlands, East Midlands and South regions and entering the South West for the first time.
Miller said the acquisition was part of its growth strategy and was significant in helping it meet its medium-term ambition of reaching 6,000 homes a year.
The firm will continue to operate the business under the St Modwen Homes brand, and it will establish a new regional office in the South West of England.
Miller Homes chief executive Stewart Lynes said: “Across the UK, people need high-quality, sustainable homes. We are committed to growth and playing an important part in addressing the housing shortage. We were attracted to the quality and location of St. Modwen Homes’ land, helping us grow and expand to new areas.”
The deal is subject to regulatory approval and is expected to close in Q1 of 2025.
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