The Republic’s competition watchdog has backed Kilsaran Concrete’s proposed acquisition of a sand and gravel pit in Rhode, Co Offaly, along with other assets owned by a local company.
Last November, Kilsaran, one of the largest ready-mix concrete, concrete blocks and aggregates manufacturers in the State, informed the Competition and Consumer Protection Commission (CCPC) of its intention to acquire certain assets of Kilmurray Precast Concrete for an undisclosed sum.
The assets include Kilmurray’s sole sand and gravel pit at Kerryarkin, Rhode, Co Offaly along with a chip processing plant, stock, vehicles, plant, supply and sale contracts, interest in leased assets and two “small freehold properties”.
After a preliminary phase one investigation into the competition implications of the proposed deal, the CCPC said it would launch a full phase two investigation into the matter.
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The watchdog “determined that an in-depth investigation [was] required to establish whether the proposed transaction will or will not result in a substantial lessening of competition in the State”.
In a statement on Friday, the CCPC said it had “determined the proposed deal will not substantially lessen competition”.
Headquartered in Co Meath, Kilsaran was founded in Co Louth in 1964 by the late Patrick McKeown and is still owned and operated by his family. It employs around 500 people, and operates plants and quarries across the State.
Kilmurray, meanwhile, was founded in 1995 and is currently owned by Westmeath businessman Conor Kilmurray. The company employed 21 people in 2022, according to its most recent set of accounts, and had accumulated profits of more than €15 million at the end of that year.
Separately, the CCPC is to carry out a full phase two investigation into the purchase of Cellnex Ireland Limited and Cignal Infrastructure Limited by Phoenix Tower International Holdco.
Phoenix and Cellnex are independent tower companies that host active network equipment on their passive infrastructure sites.
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