Brickworks Limited acquiring Glen-Gery
Glen-Gery Corporation has announced that its parent company, lbstock plc, has entered into an agreement to sell Glen-Gery Corporation to Brickworks Limited.
The transaction is expected to be completed by the end of the year, subject to customary regulatory approvals.
Glen-Gery is a leading North American brick and stone manufacturer headquartered in Wyomissing, Pa. The company operates 10 manufacturing plants and 10 Masonry Supply Centers throughout the United States.
Based in Leicestershire, England, lbstock plc, a manufacturer of clay bricks and concrete products and has owned Glen-Gery Corporation since 2014. The sale to Brickworks was initiated based on Ibstock plc's decision to refocus its business strategy on growing its core markets in the United Kingdom.
Brickworks Limited, is the largest brickmaker and one of the leading building material manufacturers in Australia. Products offered by Brickworks include masonry blocks, retaining wall systems, pavers, roof tiles, precast concrete panels, timber products and more. Brickworks products are distributed throughout Australia and New Zealand.
In announcing the acquisition of Glen-Gery, Mark Ellenor, president of Brickworks Building Products North America, said, "We believe the transaction is an ideal market entry into the attractive U.S. industry, with Glen-Gery having established a leading market position in its core geographic area and a reputation for excellent product quality. By combining these two great businesses, we can learn from each other and become even better."
Founded in 1890, Glen-Gery Corporation offers a diverse portfolio of brick colors, sizes and textures for both commercial and residential applications in the U.S. and Canada.
Commenting on the sale, Glen-Gery President Greg Silvestri said, "We are very pleased with the opportunities presented by our new association with Brickworks. As leaders in our respective markets, we look forward to the potential for strengthening and expanding our combined companies." Silvestri also noted that, "Our partnership with Brickworks will enable shared technology advancements and innovations, and the expansion of Glen-Gery's product diversity and market coverage."
The transaction is expected to be completed by the end of the year, subject to customary regulatory approvals.
Glen-Gery is a leading North American brick and stone manufacturer headquartered in Wyomissing, Pa. The company operates 10 manufacturing plants and 10 Masonry Supply Centers throughout the United States.
Based in Leicestershire, England, lbstock plc, a manufacturer of clay bricks and concrete products and has owned Glen-Gery Corporation since 2014. The sale to Brickworks was initiated based on Ibstock plc's decision to refocus its business strategy on growing its core markets in the United Kingdom.
Brickworks Limited, is the largest brickmaker and one of the leading building material manufacturers in Australia. Products offered by Brickworks include masonry blocks, retaining wall systems, pavers, roof tiles, precast concrete panels, timber products and more. Brickworks products are distributed throughout Australia and New Zealand.
In announcing the acquisition of Glen-Gery, Mark Ellenor, president of Brickworks Building Products North America, said, "We believe the transaction is an ideal market entry into the attractive U.S. industry, with Glen-Gery having established a leading market position in its core geographic area and a reputation for excellent product quality. By combining these two great businesses, we can learn from each other and become even better."
Founded in 1890, Glen-Gery Corporation offers a diverse portfolio of brick colors, sizes and textures for both commercial and residential applications in the U.S. and Canada.
Commenting on the sale, Glen-Gery President Greg Silvestri said, "We are very pleased with the opportunities presented by our new association with Brickworks. As leaders in our respective markets, we look forward to the potential for strengthening and expanding our combined companies." Silvestri also noted that, "Our partnership with Brickworks will enable shared technology advancements and innovations, and the expansion of Glen-Gery's product diversity and market coverage."