Ireland’s Moritz Trading Ltd has strengthened its position as a leading building materials supplier by acquiring Wexford-based C&D Builders Providers in a deal thought to be worth more than €20m.
C&D, a €30m turnover company with two branches in Wexford and Arklow, is a leading supplier of building materials, timber, DIY and garden products in the south-east of Ireland.
The acquisition increases Moritz’s turnover to €74m and follows on from a recent franchise agreement with Wickes and the takeover of timber merchant TJ O’Mahony & Sons Ltd a year ago.
“We are delighted to complete this acquisition as part of a strategy to establish a countrywide presence in the builders’ providers and retail DIY/home improvement markets,” said Sean Moran, Mortiz Trading managing director.
He said Mortiz would complement continued growth in the builders providers market with the opening of 15 Wickes stores throughout Ireland over the next five years, creating 450 jobs. The company would “seriously invest” to realise its objectives, he added.
“Our business strategy recognises that 50% of the Irish market is still held by independent operators. We offer a real alternative to operators thinking about selling their businesses.”
Mortiz has no plans to change the names of its acquisitions.
