The Competition and Markets Authority has accepted Breedon’s undertakings in lieu of a reference to a Phase 2 investigation in respect of its proposed acquisition of Hope Construction Materials.
Breedon has accordingly been cleared to complete the acquisition, subject to those undertakings.
As indicated in the company’s announcement on 21 July, 2016, Breedon expects to complete the acquisition of Hope Construction Materials on 1 August, 2016.
Commenting on the announcement, Breedon’s chairman, Peter Tom CBE, 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.”
