The UK’s Competition and Markets Authority has given the green light to a merger between Cargill‘s fresh chicken business in the country and local meat producer Faccenda Foods.
US agri-food giant Cargill announced the planned amalgamation with Faccenda’s UK fresh chicken, turkey and duck business in September, under which a new company would be formed in a 50-50 joint venture. In November, the European Commission gave its approval to the merger.
The CMA said today (7 December) the merger has been “investigated and cleared” and full details of its decision will be available “shortly”.
In its November ruling, the Commission said: “The Commission has found today that the remainder [non-UK element] of the transaction would raise no competition concerns because the companies’ market shares are small in the relevant areas outside the UK.”
When the plan was first announced in September, Cargill said the new stand-alone company would take in approximately 6,000 employees from each unit and that a name would be assigned for the venture upon completion of the deal.
A statement released at that time said Andy Dawkins, the managing director for Faccenda Foods, would be appointed chief executive, while Chris Hall, the fresh chicken director for Cargill’s European meat business, would assume the chief commercial officer role.