Gladedale, the UK’s biggest privately owned housebuilder, has bought Yorkshire-based Ben Bailey for £83.7m. Daily Telegraph. The Times
This is the fourth acquisition for Gladedale, which is headed by Remo Dipre, in as many years.
It has agreed a 700p all-cash offer for Ben Bailey, which began seeking a buyer after a review of its options in February. The founding Bailey family, which set up the company in 1933, will get up to £20m as a result of the deal.
Gladedale said Ben Bailey was a ‘complementary fit’ within its central British division, covering Yorkshire, Nottinghamshire, Derbyshire and Lincolnshire.