The Commission has approved the proposed transaction whereby Real Foods Investments intends to acquire the remaining shares of Highveld Honey, with conditions.
✔️Real Foods provides health and wellness foods in South Africa. Of relevance to this merger is the Acquiring Group’s activities as a supplier of locally produced and imported honey and related products in South Africa. These products are supplied to a variety of customers such as national retail grocery chains, pharmacy chains and wholesalers.
✔️Highveld Honey, established in the 1960s, runs around 8,000 beehives. The firm distributes a range of South African honey products as well as imported honey to wholesale and retail markets, both locally and abroad. Pre-merger Highveld Honey is jointly controlled by Real Foods.
The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. To remedy public interest concerns about the greater spread of ownership, Real Foods Investments has agreed to sell a percentage of Highveld Honey to one or more historically disadvantaged persons (HDPs) post-merger. The merger does not raise any other public interest concerns, said the Commission in a statement.
Source: CompCom.co.za
