South African holding company Libstar is to merge with Sonnendal Dairies in the Western Cape following approval by the country’s competition watchdog.
Libstar is controlled by private-equity funds and has interests in a number of companies in South Africa, including within the food and beverage industry. Sonnendal’s main product is yogurt, but it also makes associated dairy products and a range of juices.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe country’s Competition Tribunal cleared the merger yesterday afternoon (25 October) after assessing recommendations made by the Competition Commission, which had flagged concern over what it called a restraint of trade clause.
Under that clause contained in the sale of business agreement, Sonnendal cannot operate outside of its existing business scope of Western Cape province for three years.
A statement announcing the merger approval said: “The Tribunal approved the condition whereby Sonnendal will continue to operate in the Western Cape where it predominately operates, but will not operate nationally for a three-year-period”.
The financial details of the transaction have not been disclosed. When contacted by just-food yesterday, a Libstar spokesperson said it was group policy not to publicly announce specific details.
