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Statement Of Preliminary Issues Released For T&G Application To Acquire Freshmax
The Commerce Commission has published a statement of
preliminary issues relating to an application from Turners
& Growers Fresh Limited to acquire 100% of the shares in
Freshmax NZ Limited.
The statement outlines the key competition issues that the Commission considers important in deciding whether or not to grant clearance to the proposed acquisition.
The Commission invites interested parties to provide comments on the likely competitive effects of the proposed acquisition. Submissions can be sent by email to registrar@comcom.govt.nz with the reference T&G/Freshmax in the subject line. Parties should provide a public version of their submission at the same time for publication on the Commission’s case register. Any submissions should be received by close of business on 6 March 2020.
The Commission is currently scheduled to make a decision on the application by 7 April 2020. However, this date may be extended.
The
Statement of Preliminary Issues and a public version of the
application can be found on the on the Commission’s case
register.
Background
T&G and Freshmax are both involved in the supply of fruit and vegetables (fresh produce) to retailers and other parties in New Zealand.
T&G grows, imports and wholesales fresh produce in New Zealand and exports locally grown fresh produce. T&G also operates a produce distribution network and undertakes contract ripening for customers. T&G is a wholly owned subsidiary of T&G Global Limited.
Freshmax imports and wholesales fresh produce in New Zealand. Freshmax provides distribution, fumigation, packing, ripening, quality control and cool-store services. Freshmax is a wholly owned subsidiary of Freshmax NZ Group Limited.
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
Further information explaining how the
Commission assesses a merger application is available on our
website.
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