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| Barratt announces plans to integrate Wilson Bowden Following the completion of the acquisition of Wilson Bowden on 26 April 2007, Barratt Developments PLC announces its initial integration plans for the combined business, including the brand architecture and the organisational structure. Barratt has already stated that it aims to deliver annualised pre-tax cost synergies from operational and purchasing efficiencies of at least £45 million in the second full year after completion of the deal. One-off exceptional costs of £35 million are expected to be incurred in realising these synergies. The enlarged group intends to focus on two strong national brands for its house building activities across Great Britain, Barratt Homes and David Wilson Homes. The strong local brand, Ward Homes, will be retained in Kent. The KingsOak brand is being dropped from the business and its activities will be integrated with those of the Barratt and David Wilson branded operations as appropriate. A reorganisation of the regional network of divisional offices will also commence immediately to create optimally sized house building divisions. This will involve some closures and merging of existing offices and it is therefore planned to consult on the closure of 9 divisional offices. There will be no impact on the number of sites or site based staff. Following these changes to the divisional structure of the housebuilding business, it is envisaged that the group will operate 35 housebuilding divisions, comprising 22 Barratt, 10 David Wilson, 2 dual branded divisions and 1 Ward Homes. The Non Executive Directors of Wilson Bowden plc have resigned and the Executive Directors (with the exception of Nick Richardson) have left or will shortly leave. The Barratt Developments PLC Board will remain unchanged. write your comments about the article :: © 2007 Construction News :: home page |