Higgins acquisition completed

General News

Jul 29, 2016

Fletcher Building Limited (Fletcher Building) announces it has completed the transaction to acquire New Zealand and Fiji road construction and maintenance business Higgins for a purchase price of NZ$303 million.
The businesses acquired as part of this transaction comprise principally:

  • Higgins’ road construction and maintenance operations in New Zealand, including asphalt and bitumen plants

  • Road construction and maintenance operations in Fiji

  • Higgins’ aggregates business (excluding the Horokiwi Quarry, a Wellington based joint-venture)

  • Other related businesses including the manufacture of traffic signs, bitumen tanks and sprayers

 Higgins’ ready-mix concrete and property businesses are excluded from the transaction which has been cleared by all relevant New Zealand and Fijian regulatory authorities.