The timber suppliers and builders' merchants agreed a deal to acquire Brooks Group, which comprises Brooks Builders Merchants and Dublin Plywood and Veneer ('DPV').
Commenting on the transaction completion, Ciaran Murdock of Murdocks said: "We are very pleased to have completed our acquisition of Brooks, which has resulted in the establishment of a strong competitive force in the market with significant reach throughout the island of Ireland. The acquisition of Brooks is an important strategic development for the business that will significantly broaden our footprint in the Republic."
Along with the exciting acquisition, Murdocks has also welcomed James Higgins as new CEO Designate, joining from McAleer & Rushe. The experienced Chartered Accountant will succeed Ann Morgan who is retiring in October following 15 years in the role. Following a transition period, Mr Higgins will assume the role of Group CEO in October, with overall responsibility for the combined business, including Brooks.
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Ciaran Murdock of Murdocks has welcomed Mr Higgins to the team, commenting: "We are also pleased that James has joined Murdocks as CEO Designate, succeeding Ann who has done an excellent job at the helm over the past 15 years. I would like to take this opportunity to sincerely thank Ann for her fantastic contribution in guiding the Murdock Group to its strong market position on the island of Ireland ideally placed for her successor. James' experience will add further value to the business, particularly as we commence integration following our strategic acquisition of Brooks. We are delighted to have somebody of James' calibre leading the business at this important juncture for the Group."
James Higgins, CEO Designate of Murdocks, added: "I am delighted to be joining Murdocks at such a key time for the business. Following the acquisition of Brooks, I look forward to leading an exciting new chapter for the combined business, which we are confident will provide us with a solid platform for further expansion."
Murdocks has 10 branches and two timber processing facilities in Northern Ireland as well as four merchanting outlets in the Republic of Ireland. Brooks has seven builders' merchants branches in the Republic and DPV has its timber distribution based in Dublin.
