The deal includes two plants at Fornham Park in Bury St Edmunds and at Waterbeach near Cambridge.
Five Allen Newport employees are transfering to Eastern Concrete to form the core of its new ready mixed operation.
Eastern Concrete managing director Tom Baker said: “The acquisition of this long established and highly regarded business will complement our existing volumetric fleet and enhance our service for complete concrete solutions. The Allen Newport Ltd reputation for providing a quality product & service matches our core business value and message, first for flexibility and service.”
Allen Newport managing director Richard Stevens said: “Having reached the decision to sell our ready mixed concrete business, our priority was to ensure that we identified a buyer with a similar culture and ethos to that adopted by Allen Newport Ltd over nearly 50 years of the operation of our ready mixed business. In Eastern Concrete I have no doubt that we have succeeded in this aim; the company is both progressive and ambitious but displays the same virtues of quality of product and service that we have always advocated. I am certain that the legacy created by Allen Newport Ltd and all of its hard-working and loyal employees is in extremely good hands.”
Mr Stevens added: “Whilst we are selling this part of our business, our aggregates operation, based at our sand and gravel quarry at Cavenham, between Newmarket and Bury St Edmunds, remains very much open for business. We shall continue to trade as Allen Newport Ltd and look forward to continuing to look after our customers with the same dedication and level of service as we have done over the 78 years that the company has been in existence.”