EU: EC clears Schuitema acquisition
The European Commission has cleared the proposed acquisition of the Dutch based food retail company Schuitema by the investment fund CVC Fund IV, which is owned by CVC Capital Partners Group.
"After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it," the EC said.
Amongst its portfolio of companies, CVC controls Leaf International B.V a Dutch sugar confectionery manufacturer and a supplier of Schuitema.
"While there is no horizontal overlap in the activities of CVC and Schuitema, the transaction has a vertical aspect in that Leaf is a supplier of sugar confectionery products resold by Schuitema," the ruling said.
"However, even if Leaf is one of the most important suppliers of sugar confectionary products in The Netherlands, it faces strong competition from other sugar confectionery producers. Schuitema's position on the Dutch retail market is moderate and the Commission concluded that there is no risk of exclusion of other sugar confectionery manufacturers from the Dutch food retail market, nor of access to Leaf's products by other retailers," it said.
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