The Competition and Markets Authority (CMA) has given the go-ahead for Breedon to buy Hope Construction Materials.
The Authority says it has accepted Breedon’s plans to sell some of its ready-mix concrete sites after concerns were raised in relation a number of sites where it was feared customers might face higher prices as a result of the merger in the local area. Breedon has offered to sell 14 sites to Tarmac and the Concrete Company, both of which have been approved by the CMA. The newly merged entity will operate over 200 sites across England, Wales and Scotland. The sale worth £336M is expected to be completed on August 1.
Breedon’s chairman Peter Tom said: “The way is now clear for Hope to join us and create the UK’s largest independent construction materials group. It will give us a stronger platform for growth, with a broader geographical footprint, increased scale, an improved product mix, greater financial capacity and a team of highly talented people.
“We have built our reputation on our service, delivered locally, promptly and to the highest quality standards. We look forward to working with our new colleagues to deliver an even better and more comprehensive service to our customers in the years ahead.”