Glen-Gery Corporation Acquired by Brickworks Limited
Nov 26, 2018, 10:30 ET
WYOMISSING, Pa., Nov. 26, 2018 /PRNewswire/ -- Glen-Gery Corporation has announced that its parent company, Ibstock 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 U.S.
Ibstock plc (www.ibstockplc.com), a leading manufacturer of clay bricks and concrete products headquartered in Leicestershire, England, has owned Glen-Gery Corporation most recently 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 (www.brickworks.com.au), 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, Brickworks Building Products North America, noted that, "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 (www.glengery.com) offers the market's most 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."
About Glen-Gery
Glen-Gery Corporation, now in its 128th year of operation, is a premier brand and award-winning manufacturer of brick and stone products, and a distributor of in-house manufactured and sourced exterior/interior building products. Glen-Gery offers North America's most diverse portfolio of clay brick for residential and commercial use in the U.S. and Canada. The company operates 10 manufacturing plants and 10 Masonry Supply Centers in the U.S and markets products through a national network of more than 500 distributors.
Contact
Tim Leese
Marketing Services Manager
Glen-Gery Corporation
(484) 335-2333
Tim.Leese@glengery.com
www.glengery.com
SOURCE Glen-Gery
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