Ridgeons Ltd, which has a Snettisham branch, is taken over by builders' merchants Huws Gray

Timber and builders' merchants Ridgeons Ltd, which has a branch in Snettisham, is looking ahead to an "exciting future" after its acquisition by another firm was announced this week.

Huws Gray, also an independent builders' merchants, has taken over Ridgeons, which trades from more than 40 branches in East Anglia.

Sophie Brown, spokesman for the Ridgeons Group, told the Lynn News: "Huws Gray are committed to a rapid expansion of the business, and if anything it will create new jobs.

"It's an exciting future for Ridgeons and will help us move forward. People will still see the same familiar faces at the stores and Ridgeons will continue to trade under that name."

The acquisition will significantly increase Huws Gray’s store base and broaden its national presence, making it the UK’s largest independent builders merchants.

Like Huws Gray, Ridgeons has a strong focus on the growing repair, improvement and maintenance segment, as well as a large and diversified customer base of over 16,000 clients.

The transaction is the fifth acquisition made by Huws Gray in less than six months.

Terry Owen, chief executive officer of Huws Gray, said: “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.”

Gordon Ridgeon, on behalf of the Ridgeon family, added: “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.”