1. ITV Report

Builders merchants Ridgeons is sold off in multi-million pound deal

Ridgeons employs 850 people across the eastern region. Credit: ITV News Anglia

The builders merchants firm Ridgeons, which employs 850 people across 40 sites in the East of England, has been sold.

The family firm, founded in Cambridge 107 years ago, has been taken over by Huws Gray in what's thought to be a multi-million pound deal.

The Ridgeon family say they're confident they've found a "like-minded" owner.

"The acquisition of Ridgeons represents a real milestone for our company as we become the largest independent builders merchants in the UK. Ridgeons is an excellent business with a genuine leadership position in its region and is a perfect addition to Huws Gray’s growing footprint. We were struck not only by the strength of the company, but also by the considerable similarities between our cultures and management style.”

– Terry Owen, CEO of Huws Gray

"Our priority was to find a new owner for Ridgeons with the same culture and values. We are confident that in Huws Gray we have found a like-minded owner who will further strengthen the Ridgeon brand and continue to build on the success of the past 107 years.”

– Gordon Ridgeon on behalf of the Ridgeon family