11. Breedon Group Plc
Supplying the Basics
Breedon Group Plc is a Derbyshire-based company that makes money by supplying the raw materials needed for construction projects, from roads to buildings. It operates in the construction materials industry – a vital sector for infrastructure and housing – producing and selling aggregates, cement, asphalt, and ready-mixed concrete across Great Britain, Ireland, and the United States.
The company’s revenue comes from selling these materials to builders, contractors, and infrastructure projects. Breedon quarries aggregates like sand, gravel, and crushed rock, which form the base for concrete and asphalt. It also produces cement at its Kinnegad plant in Ireland and mixes concrete on-site for clients, often for big projects like motorways or housing estates. Asphalt, used for road surfacing, is another key product, with Breedon delivering surfacing solutions directly to customers. The company charges per tonne or cubic metre, with prices varying by region and demand – for instance, a tonne of aggregates might fetch £20–£30. In 2024, Breedon’s revenues were around £1.5 billion, reflecting steady demand despite economic headwinds.
Breedon has expanded through acquisitions, notably buying Lionmark Construction Companies LLC in the US for $240 million in March 2025. This deal, which added $246 million in annual revenue to Breedon’s books, boosts its presence in the American market, where infrastructure spending is on the rise. The company also acquired BMC Enterprises in 2024, further growing its US footprint. These moves show Breedon’s strategy to diversify geographically while sticking to its core of vertically integrated materials supply – controlling everything from quarrying to delivery.
Employing over 3,500 people, Breedon benefits from the UK’s ongoing need for housing and infrastructure, though it faces challenges from rising energy costs and potential economic slowdowns.
Breedon was founded by Sir Peter Tom, a seasoned entrepreneur who previously built Aggregate Industries into a success before its sale to Holcim. As executive chairman, he entrusted daily operations to his capable deputy, Pat Ward, fostering a company that grew steadily under the guidance of highly skilled leadership.
While this legacy persists to some degree, the landscape has shifted. Now in his 80s, Sir Peter has fully divested from Breedon, redirecting his investments to Sigma Roc. Pat Ward has retired, and the largest shareholder today is Amit Bhatia, a billionaire Indian businessman and son-in-law of the immensely wealthy Lakshmi Mittal. The company is competently led by former CFO Rob Wood, who stepped into the top role. Yet, Breedon remains, at its core, a "get rich slowly" enterprise – reliable and well-run, but lacking the explosive potential Wonder Stocks seeks. Though a commendable business, it falls short of the exceptional standard required to warrant further attention from Wonder Stocks.
