The residential developer purchased the East Midlands-based company to expand its operations in the region.
The deal will see Radleigh rebrand to Redrow, with 70 employees becoming part of the new Redrow Homes East Midland division based in Pride Park, Derby.
Having been in operation for over 20 years, Radleigh completed around 200 new homes In 2016. the business has a pipeline of over 1,300 plots with planning and a further 1,200 plots controlled under options in its strategic land bank.
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Established in 1974 by Chairman Steve Morgan CBE, Redrow completed 4,700 much-needed quality family homes with a turnover of £1.38bn and a profit of £250m In the financial year to the end of June 2016.
Peter Gadsby, Chairman and principal shareholder of Radleigh, said: "I am delighted that Redrow have decided to acquire the business as they hold similar values to our own. I have personally known and done business with Steve Morgan CBE for many years and have identified Redrow as the perfect fit to take Radleigh on to the next stage."
John Tutte, Chief Executive, Redrow, said, "I'd like to thank Peter Gadsby, for the opportunity to acquire the business and I welcome the Radleigh Homes team to Redrow.
"As a result of the deal, additional and much-needed quality homes will be built in the region - benefitting local customers, colleagues and businesses within the supply chain. The acquisition will allow us to roll-out the Redrow brand to new customers, and add to our existing portfolio of developments in the East Midlands."
(LM/MH)
