The Commerce Commission has granted clearance for ANZCO Foods Limited to acquire 100 percent of the shares in Greenlea Group Limited.
In reaching its decision, the Commission considered the potential impact of the proposed acquisition on competition in relevant markets for the acquisition of cattle for processing and supply of processed beef products, including beef by-products and rendered products.
Chair Dr John Small said the Commission was satisfied that the acquisition was unlikely to substantially lessen competition in any New Zealand market.
“Our investigation indicated that the merged entity will face sufficient competitive constraint in the acquisition of cattle for processing and supply of processed beef products, beef by-products and rendered products by the presence of other existing competitors,” said Dr Small.
”We do not consider that the acquisition will change conditions in any relevant acquisition or supply markets such that coordination is more likely.”
A public version of the written reasons for the decision is available on the case register.
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