Posted in | News

Atlas Block to be Acquired by Brampton Brick

Brampton Brick Limited today announced that it has entered into an asset purchase agreement to acquire substantially all of the assets of Atlas Block, including its state-of-the-art facility located in Hillsdale, Ontario. The acquisition is being made from KPMG Inc., the Court-appointed receiver of Atlas Block, and is subject to the Corporation being satisfied with certain due diligence investigations and to the issue by the Court of an approval and vesting order in a form reasonably acceptable to the Corporation.

This acquisition will allow the Corporation to add production capacity to its facilities and take advantage of cost-saving synergies by consolidating production of similar items resulting in greater economies of scale. The enhanced technology at the Hillsdale facility will support the Corporation in its initiatives to expand its product portfolio and better service its concrete landscape and masonry products customers.

The aggregate purchase price is anticipated to be approximately $12 million - $14 million, including inventory purchase costs and expenses associated with incorporating the assets into the Corporation.

The purchase price and inventory will be financed via term bank debt.

This transaction is expected to close on or about January 6, 2014.


Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.