CRH buys Austrian building materials chain

BUILDING materials giant CRH boosted its presence in central Europe yesterday with the acquisition of a leading Austrian chain.

The company bought Quester, Austria’s biggest retailer of building materials with 31 branches and 770 staff. The value of the deal, which remains subject to regulatory approval, was not disclosed.

Quester, which is a family-owned business, generated revenues of €250 million and profits of €2.9m last year. It has around 10% of the Austrian building materials market and 20% of the market for tiles. CRH has made a series of acquisitions in the central and Eastern European region, which contains several large markets that are growing more quickly than major economies in the west of the continent, such as Germany and France.