IRELAND: Competition Authority to investigate Wexford sale to Glanbia
Glanbia expressed interest in purchasing Wexford Creamery's entire share in the business at the end of last year
The Competition Authority of Ireland is to launch a full investigation into Glanbia's proposed acquisition of Wexford Creamery.
It has until 6 June to make a decision on the matter.
The deal, announced at the end of last year, would see Glanbia buy 70% of Wexford Creamery from farmers co-op Wexford Milk Producers. The co-op would acquire a 30% stake in held by UK dairy processor Dairy Crest.
Then Glanbia CEO Jim Bergin said at the time he hoped to complete the transaction in the first quarter of 2014.
A spokesperson for Glanbia told just-food today (6 March) the company had "no comment to make" regarding the issue.
No one at Wexford Creamery was available to comment when approached by just-food.
The Competition Authority has decided to carry out a full (phase 2) investigation in relation to the proposed transaction whereby Glanbia Ingredients Ireland Limited would acquire the entire issued share capital of Wexford Creamery Limited from Wexford Milk Producers Limited.
Following a preliminary investigation, The Competition Authority was unable to conclude that the acquisition will not substantially lessen competition in markets for goods or services in the State without carrying out a full investigation. The companies have been informed of the decision that the Competition Authority intends to carry out a full investigation in relation to the transaction. The Competition Authority has until 6 June 2014 to make a final
decision on the proposed transaction.
Original source: The Competition Authority
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