International law firm Osborne Clarke has advised Barratt Developments PLC on the real estate aspects of its acquisition of the land promoter Gladman Developments Limited.
Barratt is the UK's leading national housebuilder. Gladman also operate in the UK with a particular focus on the south of England.
Barratt has acquired Gladman for a total cash consideration of £250m on a debt free and cash free basis.
The Osborne Clarke team advising Barratt on the real estate aspects of the acquisition was led by partners Dave Kerr and Michelle McGurl and included Emma Hannah, Andrew McCormack and Richard Harding.
The acquisition combines Barratt’s best in class housebuilding operations with Gladman’s excellent land sourcing and promotion capabilities, providing greater flexibility for landowners and significantly enhancing Barratt’s strategic land credentials.
Following the acquisition, Gladman will operate as a stand-alone business within the Barratt Group led by its experienced management team, including David Gladman, Chairman and Victoria Hesson, CEO. Gladman will continue to supply land to third parties as well as provide an additional route for Barratt to source strategic land and help to promote Barratt’s existing strategic land portfolio.
