UK: Competition authorities clear Napier Brown takeover of James Budgett
The UK's Competition Commission has cleared sugar company Napier Brown's acquisition of James Budgett Sugars, Napier Brown said today (Tuesday).
James Budgett was acquired by Napier Brown Foods for £17.5m (US$33.5m)on 7 July 2004 and will now be fully integrated into the Group.
James Budgett imports refined sugars from other members of the European Union and raw cane sugars from the African, Caribbean and Pacific `sugar protocol' countries and distributes sugar throughout the UK to manufacturers of food, soft drinks, pharmaceuticals and animal foods.
"This is a very satisfactory outcome which we believe is good for our suppliers, customers, the industry as a whole and our shareholders," said Pat Ridgwell, chairman of Napier Brown Foods.
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