Viridian Seeks Clearance To Acquire Metro Performance Glass

The Commerce Commission has received an application from Viridian NZ Bidco Limited seeking clearance to acquire up to 100% of the shares in Metro Performance Glass Limited by way of a takeover offer under the Takeovers Code or scheme of arrangement under Part 15 of the Companies Act 1993.

Viridian NZ BidCo is wholly owned by funds associated with private equity firm Crescent Capital Partners, which owns Viridian Glass GP Limited (Viridian Glass). At plants in Auckland and Christchurch, Viridian Glass processes imported glass into architectural glass products that it sells to window/door fabricators and merchants throughout New Zealand. Viridian Glass also provides ancillary glass installation services.

Metro Performance Glass is a publicly listed company that, like Viridian Glass, is involved in the processing and installation of glass in New Zealand, and also has plants in Auckland and Christchurch.

The Commission has today published a statement of preliminary issues in relation to Viridian’s application.

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 “Viridian/Metro” in the subject line. Any submissions should be received by close of business on 19 June 2025.

The Commission is currently scheduled to make a decision on the application by 28 July 2025. However, this date may be extended with the agreement of Viridian if the material before the Commission at that time does not allow it to be satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in a market in New Zealand.

The statement of preliminary issues and a public version of the clearance application can be found on the Commission’s case register.

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