Breedon takeover of Hope cleared by regulators

Breedon Aggregates has been cleared by regulators to acquire Derbyshire-based Hope Construction Materials.

Breedon agreed to sell 14 ready-mixed concrete plants to appease the Competition and Markets Authority, which has duly now cleared the takeover.

Tarmac, owned by Ireland’s CRH, will buy 11 of the plants, while The Concrete Company will buy the remaining three in Lincolnshire.

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.”

Breedon first struck a £336m deal to take over Hope last October.

The two businesses combined operate more than 200 ready-mixed concrete sites across England, Wales, and Scotland.

Tarmac will buy operations in Boston, Cloddach, Coleford, Inverness, Lincoln, Shrewsbury, Spalding, Telford Halesfield, Telford Trench, Wisbech and Leinthall. The Concrete Company is acquiring operations in Immingham, Scunthorpe and Grantham, and is restarting production at the latter. All except Leinthall are Hope plants.