Building materials group Heitons has bought a Drogheda hardware shop for €14 million to establish a presence for the group in the north east.
Heitons says the purchase of Eddie's Hardware, which generated operating profits of €1.2 million last year, is part of its strategy of geographic expansion of its trade division.
Heitons said it would pay €8.4 million up front plus payment for net cash balances estimated at €2.85 million.
The deal is to be funded using internal resources.