Bovis completes £1.1bn purchase of Galliford Try businesses
Bovis Homes Group has completed its £1.075bn acquisition of Galliford Try’s Linden Homes and partnerships and regeneration businesses.
As part of the deal Galliford Try chief executive Graham Prothero will become chief operating officer at Bovis, which has also now submitted a change of name request to the Registrar of Companies to become Vistry Group.
The enlarged group under this new corporate name will operate both the Bovis Homes and Linden Homes brands to maximise the opportunities from dual branding.
Bovis Homes Group has completed its £1.075bn acquisition of Galliford Try’s Linden Homes and partnerships and regeneration businesses.
As part of the deal Galliford Try chief executive Graham Prothero will become chief operating officer at Bovis, which has also now submitted a change of name request to the Registrar of Companies to become Vistry Group.
The enlarged group under this new corporate name will operate both the Bovis Homes and Linden Homes brands to maximise the opportunities from dual branding.
Bill Hocking replaces Prothero as chief executive at Galliford Try.
Greg Fitzgerald, chief executive of Bovis Homes, said: “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.”
Peter Ventress, chairman of Galliford Try, added: “The completion of the corporate transaction transforms Galliford Try into a well-capitalised, stand-alone construction-focused group.”
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