CRH to pay €109m for Ancon

CRH, the world’s second-biggest maker and distributor of building materials, agreed to buy Tyco International Ltd’s Ancon Building Products business for £88 million (€109m) in cash.

The purchase, subject to regulatory approval, will expand CRH’s construction accessories unit in mainland Europe, the Middle East and Australia, Dublin-based CRH said yesterday.

Sheffield, northern England-based Ancon had an operating profit of $23m (€14.4) on sales of $107m last year, Tyco said in a separate statement.