Legal & General Capital acquires full ownership of CALA Homes
Legal & General Group announces today that its Legal & General Capital division has acquired the 52.1% of CALA Homes which it did not previously own. Transaction announcement and completion occurs simultaneously.
The business has performed strongly under our joint ownership with Patron Capital Partners, with revenues growing threefold from £241m in 2013 to £748m in 2017, and profits growing at a CAGR of 12% over the last three years.
Legal & General believes that CALA Homes has attractive growth prospects under its continued ownership based on Legal & General Capital’s long term approach to investing and the attractive market for housebuilding in the UK.