Slaughter and May advised Barratt Developments PLC (Barratt), the UK's leading national sustainable housebuilder, on its acquisition of the land promoter Gladman Developments Limited (Gladman) for a total cash consideration of £250m on a debt free and cash free basis. Gladman operates in the UK with particular strength in the south of England. 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 and continue to be 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.
Slaughter and May supported Barratt’s internal legal team, led by Phebe Hemmings (Deputy Group Head of Legal).
Kathryn Martin Cussons / Trainee, Nick Bailey / Trainee