Barratt Developments acquires Gladman Developments for €300m

Barratt Developments has acquired Cheshire, U.K.-based land promoter Gladman Developments Ltd. for £250 million pounds (€300 million/$335.2 million) on a debt-free, cash-free basis.

Gladman operates in the United Kingdom but is primarily focused in the south of England. Once the acquisition is completed, Gladman will operate as a stand-alone business and continue to supply land to third parties. Gladman’s existing portfolio, comprising approximately 406 potential sites with an average site size of 242 plots, is expected to deliver an incremental 500 home completions per annum for Barratt from fiscal year 2025.

“Barratt has built a reputation for a disciplined and competitive approach to acquiring land, and Gladman’s strong credentials in identifying attractive land and promoting sites through the planning process will be an important addition to the Group,” said Steven Boyes, COO and deputy chief executive at Barratt Developments PLC. “As always, we are wo