COMPETITION authorities have formally ratified the multi-million pound takeover of the Brooks Group in Dublin by Newry-based timber suppliers and builders’ merchant Murdock.
The Competition and Consumer Protection Commission has given full clearance to the acquisition, which returns Brooks to Irish ownership after 40 years.
Brooks, which has been bought from Welsh-based Premier Forest Products Group, comprises Brooks Builders Merchants (where it has seven branches in the Republic) and Dublin Plywood and Veneer.
Murdocks, which has 10 branches and two timber processing facilities in Northern Ireland and four sales outlets in the Republic, has also appointed James Higgins as chief executive-designate to succeed Ann Morgan, who is retiring in October after 15 years in the role.
A chartered accountant with a wealth of construction industry experience, he joins from McAleer & Rushe, where he was group finance director.
Ciaran Murdock of Murdocks said: “The acquisition of Brooks establishes a strong competitive force in the market with significant reach throughout the island of Ireland. It is an important strategic development for our business, significantly broadening our footprint in the Republic.
“We're equally delighted that James is joining as CEO designate. Having somebody of his calibre leading the business will add further value to the group as we commence integration following this strategic acquisition of Brooks.”
Thanking James' predecessor, Mr Murdock added: “Ann has done an excellent job at the helm over the past 15 years and made a fantastic contribution in guiding the group to its strong market position in Ireland.”
Established in 1982 by the Murdock family, the business employs 370 staff and in its last trading year had sales of more than £68 million.
