Lagan Group acquires Healy Brothers

CORK-based Healy Brothers has been acquired by the Lagan Group as it aims to increase its presence in the south.

Civil engineering and building materials firm Lagan said the acquisition of quarry and concrete company, Healy Brothers, which is based in Midleton, is part of its “ongoing strategic development”. It refused to reveal the price it paid for Healy Brothers.

Jude Lagan said: “Healy is well established in the market and has a strong brand presence in the Cork region. We also understand the company’s excellent reputation for quality and customer service comes from its strong team ethos and the core values of a family-owned business and we intend to maintain those strengths.”

Mr Lagan paid tribute to outgoing managing director of Healy Brothers, Paddy Healy, who is retiring. “This acquisition and the value of Healy Brothers to our own brand is testament to the hard work and dedication of Paddy, his family and his staff over more than 60 years,” he said.

Lagan Cement is a subsidiary of the Lagan Group, based at Kinnegad, Co Meath. According to the latest accounts filed for Lagan Cement pre-tax profits in the year to the end of March 2009 were €5.2m, down from €8.4m in the previous year. Turnover was down from €66.6m to €58.6m.

Healy Brothers employs 30 people. The company is also planning on retaining the Healy Brothers brand name following the acquisition.