France’s Vinci Construction has announced the acquisition of Fletcher Construction, subsidiary of the New Zealand-based Fletcher Building Group, for an undisclosed sum.

Fletcher Construction was founded in 1909 and employs 2,300 people across New Zealand, with an estimated annual revenue of €630m.

It specialises in hydraulic, maritime, port, airport, railway, road and renewable energy sectors.

Vinci hopes the deal will allow it to move into the New Zealand infrastructure market. Vinci generated €900m of revenue in New Zealand in 2024.

The acquisition is due to be finalised in 2026, subject to regulatory approval.

In 2015, Vinci bought New Zealand contractor HEB Construction for an undisclosed sum and in 2016, acquired Australian engineer J&P Richardson Industries.