CMA says sale of Grafton's merchanting business raises competition concerns
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The Competition and Markets Authority said on Monday that it will refer the sale of Grafton’s merchanting business to Huw Gray for an in-depth investigation if the two parties do not address competition concerns by next week.
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Building materials distributor and DIY retailer Grafton announced in July that it had agreed sell its traditional merchanting business to builders’ merchant Huw Gray in a £520m deal.
Although the sale is not conditional on approval from the CMA, the competition watchdog said it had found that the deal could result in a substantial lessening of competition.
Grafton released a brief statement in which it said the transaction is expected to complete on 28 February 2022.