CRH in expansionist mode and eyes up foreign deals

CRH will continue its strategy of pursuing sizeable acquisitions and will be “disappointed” if it fails to conclude a substantial number of deals during the rest of the year, the building materials giant said yesterday.

The firm spent over €700 million on new businesses in the first six months of the year and has full-time teams eyeing up potential acquisitions in the USA, western Europe and parts of eastern Europe. Chief executive Liam O’Mahony said the number of deals the company would conclude depended on individual circumstances, such as the willingness of target companies to sell and their ability to strike a deal.

The firm was also prepared to look at opportunities further afield, including those in emerging markets such as China, which Mr O’Mahony described as “hugely exciting” but also “a tough place to make money”, due to cultural and legal differences.