Posted on July 29, 2024
Kilsaran Concrete’s proposed acquisition of a sand and gravel pit in Rhode, Co Offaly, has been given the green light by the competition regulator, along with its purchase of other assets owned by a local company.
Last November, Kilsaran, one of the largest ready-mix concrete, concrete block and aggregates manufacturers in the State, informed the Competition and Consumer Protection Commission 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 watchdog said it would initiate a more detailed phase two investigation into the matter. The commission “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 commission said it had “determined the proposed deal will not substantially lessen competition”.
Kilsaran, headquartered in Co Meath, was founded in Co Louth in 1964 by the late Patrick McKeown and is still owned and operated by his family. It employs about 500 people, and operates plants and quarries across the State.
Kilmurray was founded in 1995 and is 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 commission 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.
