The Office of Fair Trading has referred Wienerberger Finance's proposed acquisition to the Competition Commission
The Office of Fair Trading (OFT) has referred the proposed acquisition of Baggeridge Brick by Wienerberger Finance to the Competition Commission.
Brick maker Wienerberger unveiled its plan to purchase Baggeridge Brick for £89.2m in August. However if successful the acquisition would see the number of brick makers in the UK reduced from four to three and it is thought this is a cause of concern for the OFT.
Baggeridge Brick is the country’s fourth biggest producer employing 575 staff in its six sites across the UK.
Wienerberger is already the third biggest producer of bricks in the UK with nine sites in the country, and it is number two on the clay roof tile market in Europe.