Brampton Brick Limited
TSX : BBL.A

Brampton Brick Limited

February 29, 2016 16:24 ET

Brampton Brick Agrees to Acquire Eurobloq Assets

BRAMPTON, ONTARIO--(Marketwired - Feb. 29, 2016) - Brampton Brick Limited (TSX:BBL.A) today announced that it has entered into an asset purchase agreement to acquire substantially all of the assets of Eurobloq Inc., including its concrete products facility located in Boisbriand, Quebec.

This acquisition will add the production and distribution capacity required to meet the growing demand for the Corporation's masonry and landscape products in the Quebec and Eastern Ontario regions.

The aggregate purchase price is anticipated to be approximately $5 million - $6 million, including expenses associated with incorporating the assets into the Corporation.

The purchase price will be financed via the Corporation's existing operating line and additional bank debt.

This transaction is expected to close on or about March 11, 2016 and is subject to usual conditions including satisfactory due diligence, as well as court approval.

All statements in this press release, other than those relating to historical information, are forward- looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including, but not limited to, those identified under "Risks and Uncertainties" in the 2014 annual MD&A included in the Corporation's 2014 Annual Report and those identified and reported in the Corporation's other public filings (including the Annual Information Form for the year ended December 31, 2014), which may be accessed at www.sedar.com, which may cause actual results, performance or achievements of the Corporation to be materially different from any future result, performance or achievements expressed or implied by such forward-looking statements.

Brampton Brick is Canada's second largest manufacturer of clay brick, serving markets in Ontario, Quebec and the Northeast and Midwestern United States from its brick manufacturing plants located in Brampton, Ontario and near Terre Haute, Indiana. To complement the clay brick product line, the Corporation also manufactures a range of concrete masonry products, including concrete brick and block as well as stone veneer products. Concrete interlocking paving stones, retaining walls, garden walls and enviro products are manufactured in Markham, Hillsdale, Brockville and Brampton, Ontario and Wixom, Michigan. These products are sold to markets in Ontario, Quebec, Michigan, New York, Pennsylvania, Ohio, Kentucky, Illinois and Indiana under the Oakstrade name. Products are used for residential construction and for industrial, commercial, and institutional building projects.

Contact Information

  • Brampton Brick Limited
    Jeffrey G. Kerbel
    President and Chief Executive Officer
    905-840-1011
    905-840-1535

    Brampton Brick Limited
    Trevor M. Sandler
    Vice-President, Finance
    905-840-1011
    905-840-1535