(RTTNews) - Greencore stated that the CMA has concluded in its Phase 1 decision that the acquisition of Bakkavor by Greencore does not give rise to competition concerns in the vast majority of areas reviewed. The CMA identified that there may be a realistic risk of a competition concern in relation to the supply of own label chilled sauces in the UK. Greencore said it now has the opportunity to put forward remedies to address this concern in lieu of a more in-depth Phase 2 investigation.
Dalton Philips, CEO of Greencore, said: "The CMA process has been constructive and the Phase 1 decision is a welcome one, confirming our view of the highly complementary nature of our businesses and product portfolios across "food for now" and "food for later."
Greencore noted that the CMA agreed that the transaction does not raise any competition concerns in relation to approximately 99% of the revenues of the combined group.
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