Competition Authority’s review of Breedon’s proposed acquisition of Hope

894 Breedon says that it has noted the announcement today by the UK Competition and Markets Authority that it has completed its Phase 1 review of the company’s proposed acquisition of 7447 Hope Construction Materials, and that it has concluded there is a realistic prospect of a substantial lessening of competition in a limited number of local ready-mixed concrete markets in England and Scotland.

Breedon says the outcome is in line with its expectations, and the company now has a short period during which to offer remedies to address the CMA’s outstanding concerns.

Subject to agreement with the CMA on appropriate remedies, Breedon expects to complete the acquisition later this summer in line with previous guidance.

Breedon Aggregates is the largest independent aggregates business in the UK after the four global majors. It operates 53 quarries, 26 asphalt plants, 61 ready-mixed concrete plants and three concrete block plants in England and Scotland and employs approximately 1,200 people.