Persimmon said the acquisition of Lone Star Limited (LSL) enhanced its strategic land function.
LSL will continue to operate as a land promotion business, led by managing director Richard Burke, with a focus on securing medium to large strategic sites and expanding the pipeline in attractive locations.
Persimmon deputy UK managing director Liam Scott said: 鈥淭his investment strengthens Persimmon鈥檚 strategic land platform and supports our broader growth ambitions. By combining Lone Star鈥檚 expertise with our own, we can unlock new land opportunities, creating long-term value for our partners, stakeholders and communities.
鈥淎nd importantly, by retaining Lone Star鈥檚 experienced team we鈥檙e ensuring continuity and enhancing our ability to deliver on Persimmon鈥檚 growth plans.鈥�
Lone Star Limited managing director Richard Burke said: 鈥淭his partnership provides the opportunity to leverage Persimmon鈥檚 scale and expertise, building on our existing long-standing relationships. I look forward to working with colleagues and customers alike to identify and accelerate both existing and new opportunities in the years ahead.鈥�