BRAMPTON, Ont—Brampton Brick Ltd, has completed its acquisition of Atlas Block, including its state-of-the-art facility located in Hillsdale, Ont.
The acquisition was made from KPMG Inc., the court-appointed receiver of Atlas Block, a family-owned business which entered into receivership Oct. 4 2013.
The company employed 84 people prior to receivership, but could not recover from the recession of 2008, according to a report by the Orillia Packet & Times
This acquisition allows the Brampton Brick to add production capacity to its facilities and leverage synergies by consolidating production of similar items resulting in greater economies of scale. The enhanced technology at Atlas’ Hillsdale facility will support expansion of its products and market share in concrete masonry markets.
The purchase price was $13.4 million, including inventory.