The Competition Authority of Ireland is to launch a full investigation into Glanbia Ingredients Ireland’s proposed acquisition of Wexford Creamery.
The TCA said after a preliminary investigation it had been “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”.
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It has until 6 June to make a decision on the matter.
The deal, announced at the end of last year, would see Glanbia Ingredients Ireland 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.
Glanbia Ingredients Ireland 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.
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By GlobalDataNo-one at Wexford Creamery was available to comment when approached by just-food.
