The commission concluded that the proposed acquisition would raise no competition concerns because ABP already had joint control of the companies and the change to sole control would have a limited impact on the market.
The transaction was examined under the simplified merger review procedure.Slaney and Linden
It's understood the businesses will continue to operate under their respective trading names for the foreseeable future and the sites will continue to operate as normal. Earlier this year when the acquisition was first announced, ABP chief executive Frank Stephenson said: “This development is the direct result of our successful joint venture arrangement, which has enabled all parties to improve their offerings to customers and to compete more effectively nationally and internationally.The time is now right to build on this success ensuring that we continue to be a dynamic and innovative organisation as we face into the challenges of operating in a very competitive global marketplace, while also addressing the ongoing challenges of changing agricultural policies, Brexit and Covid-19.”At that time also, Trevor Lockhart, chief executive of Fane Valley, commented: “The Linden, Slaney and ICM businesses have progressed positively during our joint venture relationship with ABP. “The trading environment, however, does not stand still, and all businesses need to continue to evolve and develop to maintain their competitive position in the market,” he added.