Breedon confident about £336m Hope deal despite CMA ruling

Breedon Aggregates’ proposed £336m takeover of Hope Construction Material could lead to a lessening of competition, according to authorities.

The Competition and Markets Authority (CMA) says that has completed its Phase 1 review of Breedon’s planned acquisition of Hope Construction Materials and that it has concluded there is “a realistic prospect of a substantial lessening of competition in a limited number of local ready-mixed concrete markets in England and Scotland.”

A statement from Breedon read: “This outcome is in line with Breedon’s expectations and the company now has a short period during which to offer remedies to address the CMA’s outstanding concerns.

“Subject to agreement with the CMA on appropriate remedies, Breedon expects to complete the acquisition later this summer in line with previous guidance.”

If the deal goes ahead it will create the UK’s leading independent producer of cement, concrete and aggregates.