Brickmaker will sell off surplus land assets but continue to buy

Brick manufacturer Michelmersh has said it will continue to make acquisitions as it prepares to sell off surplus land assets.

Ahead of its annual general meeting today, Michelmersh, which also deals in landfill and land development, said it has successfully integrated the recently acquired brick firm Freshfield. It is now selling off “surplus assets” from the acquisition, which will be completed soon for around £1.4m.

Eric Gadsden, chairman of Michelmersh, said sales are “well in excess” of the same period last year. The firm also said it is in final discussions with housebuilder Persimmon over some land sites.

Gadsen ended his statement by saying: “We continue to explore other opportunities to grow the business by acquisition.”