The Republic’s competition watchdog has said it will carry out a more detailed investigation into 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 has now said it will launch a full phase two investigation into the matter.
Planning regulator Niall Cussen: We can overcome the housing crisis, ‘if we put our minds to it’
On his return to Web Summit, the often outspoken chief executive Paddy Cosgrave is now an epitome of caution
Surviving a shake-up: is restructuring ever good for staff?
The Irish Times Business Person of the Month: Dalton Philips, Greencore
The watchdog “has determined that an in-depth investigation is required to establish whether the proposed transaction will or will not result in a substantial lessening of competition in the State”, it said in a statement.
The CCPC said it has received one third-party submission so far and stakeholders have until 4:30pm on Wednesday, March 27th to make any further observations. It will continue to gather evidence from the parties involved and must make a determination by May 31st.
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, according to its website, 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.
- Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Find The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
