Springfield, Scotland’s only listed housebuilder, is to buy rival Tulloch Homes for £56.4m.
It has also announced a share placing to raise £22m of the purchase cost.
Chief executive Innes Smith said: “This is another great acquisition for Springfield – and our third since coming to the market in 2017.”
Springfield described Tulloch as “a profitable, cash-generative and well-run housebuilder”, adding that its “significant land ownership in the Scottish Highlands in and around Inverness” was also appealing.
“This is an area of high demand where we have been organically building a presence in recent years,” said Smith.
“As a result, it will significantly strengthen our foothold in an area of strategic importance and accelerate our growth, being earnings enhancing from the current year.
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