RGB Building Supplies, which has branches in Wellington and Wiveliscombe, has been acquired by Grant & Stone and become part of the largest independent builders merchant group in southern England.

The company will continue trading as RGB Building Supplies across Somerset, Devon and Cornwall, and its head office will still be in Barnstaple. Mots of RGB’s executive board of directors will not change and its current chief executive, Kevin Fenlon, will remain leading the business.

Proceeds of more than £2.5 million from the sale will be shared with RGB’s 350 employees as a reward for their commitment, long service, loyalty and support.

Retiring RGB chairman Colin Worth, who has worked for the business for 54 years, said: “The directors of RGB wanted to acknowledge the many years of hard work and determination our colleagues have put in to helping grow RGB into one of the leading builders merchants in the South-West.

“Thanks to them, we have built fantastic relationships with our customers, who have and will continue to buy building materials from a strong and regional independent builders merchant.”

Colin added: “We are extremely proud of the RGB team and wanted to say thank you for everything they’ve done for the business. We look forward to growing the company with them.”