Building materials group CRH is spending €646m acquiring the distribution and building products divisions of Dutch company Cementbouw.
CRH chief executive Liam O'Mahoney said Cementbouw had long been an acquisition target for CRH and represented an excellent strategic fit for the group.
Estimated goodwill on the all cash deal is €292m, and CRH will pay a further €47m for a 45% stake in Cementbouw's materials operations.
CRH has spent over €7 billion on 300 acquisitions since 1996, but says today's acquisition is its largest.
CRH says the DIY and builder merchants stores operated by Cementbuow are predominantly in the north, and will compliment the southern focus of its own operations.
The acquisition will add 54 DIY stores to CRH's existing network of 75 stories in Holland. It will add 36 builders merchant stores to CRH's network of 48.
At close CRH shares were up 24c, or 1.5%, at €15.91.
