The European Commission has approved the proposed joint venture between German retailer Rewe and Swiss grocer Coop.

The JV, transGourmet Holding, will sell consumer goods wholesale in Europe. Each company will take a 50% stake in transGourmet, which Rewe claimed would be the second-largest cash-and-carry and foodservice company in Europe.

The operation, which was cleared under the EU's simplified merger review procedure, will not lessen competition in the market, a spokesperson for the Commission confirmed today (22 December).

The joint venture was originally announced in October.