Kilsaran Concrete’s planned purchase of a sand and gravel pit located in Rhode, Co Offaly and other assets from a local business has received support from the Republic’s competition monitor. In November of the past year, Kilsaran, one of the top producers of aggregates, ready-mix concrete, and concrete blocks, informed the Competition and Consumer Protection Commission (CCPC) about its plans to purchase specific assets of Kilmurray Precast Concrete for an undisclosed sum.
The assets Kilsaran plans to acquire are inclusive of the sole sand and gravel pit owned by Kilmurray in Rhode’s Kerryarkin region, a chip processing plant, inventory, machinery, vehicles, contracts for supply and sale, interest in leased assets and two minor freehold properties.
The CCPC expressed its intent to conduct a full phase two investigation into the implications of the proposed deal following a preliminary phase one assessment. The watchdog believed that an in-depth investigation was necessary to ascertain whether the planned transaction could reduce competition significantly within the state. In a recent statement, the CCPC determined that the proposed deal is unlikely to reduce competition substantially.
Kilsaran, headquartered in Co Meath, was established by the late Patrick McKeown in 1964 in Co Louth. It continues to be owned and run by his family. The company employs roughly 500 people and has several plants and quarries throughout the state. On the other hand, Kilmurray, was established in 1995 and is presently owned by Conor Kilmurray, a Westmeath entrepreneur. It employed 21 individuals in 2022, based on its latest accounts, and accumulated profits exceeding €15 million by the end of that year.