Ontario brick manufacturer buys rival firm in deal worth $13.4M
Brampton Brick bought assets of Atlas Block, which went into receivership in October 2013
BRAMPTON, Ont.—Clay brick maker Brampton Brick Ltd. has completed the purchase of the assets of a rival construction supply manufacturer that went into receivership last fall.
According to Brampton Brick, Canada’s second largest brick maker, it paid $13.4-million for “substantially all” the assets of Atlas Block, a family-run brick and stone product maker based north of Toronto.
Atlas Block went into receivership in October 2013 after struggling to get out from under millions of dollars in debt.
The acquisition includes the company’s locations in Hillsdale, Victor Harbour and Brockville, Ont., and all inventory.
Brampton Brick said the deal will allow it to add production capacity to its facilities and take advantage of cost-savings by consolidating production.