South Africa's competition authority has given unconditional approval to Libstar's acquisition of sauce maker Cape Foods, as well as Danube's acquisition of DSM and Firmenich, without conditions.
1. Libstar Operations Proprietary Limited ("Libstar") / Cape Foods Proprietary Limited ("Cape Foods")
Libstar manufactures and distributes branded and private-label consumer products in the food, beverage, household and personal care industries, as well as providing various food and beverage solutions.
Cape Foods is controlled by its majority shareholder the GL Martin Familie Trust. Cape Foods is a manufacturer of a wide range of sauces, herbs, spices and seasoning blends as well as certain other food products.
The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise any public interest concerns
2. Danube AG / Koninklijke DSM N.V. ("DSM") / Firmenich International SA ("Firmenich")
The primary acquiring firm Danube, a company incorporated under the laws of Switzerland, is currently a wholly owned subsidiary of DSM, a public limited liability company incorporated under the laws of the Netherlands.
DSM is listed on the Euronext Amsterdam Stock Exchange and is not controlled by any single firm or individual. DSM is the controlling company of the acquiring firm. DSM is the ultimate parent company of an international group active in nutrition, health, and bioscience. DSM has two subsidiaries in South Africa, namely Biomin Animal Nutrition (Pty) and DSM Nutritional Products South Africa (Pty) Ltd. Globally, DSM has three market-focused business groups in which it organises its activities namely animal nutrition & health; health, nutrition & care; and food & beverages. In South Africa, DSM supplies enzymes, cultures, vitamins and savoury ingredients.
Firmenich is a privately owned company incorporated in accordance with the laws of Switzerland. Firmenich has two subsidiaries within South Africa, namely, Firmenich (Pty) Ltd and Firmenich Production (Pty) Ltd. In South Africa, Firmenich only provides flavours, fragrances and sweeteners.
The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise any public interest concerns.
Source: Compcom.co.za
