JP Morgan Chase & Co’s private equity unit One Equity Partners received clearance from the European Commission today (27 March) to acquire the Dailycer breakfast cereal business from Dutch food group Royal Wessanen.
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The sale of Dailycer, which makes breakfast cereals and cereal bars and generates annual sales of approximately EUR200m, and Delicia, which manufactures chocolate decorations, was announced in December. One Equity has agreed to pay EUR104m for both units.
The Commission cleared the deal under its simplified procedure that approves mergers and takeovers automatically after one month, if no third party complains.
