The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Cargill and Faccenda. The joint venture will combine Cargill’s fresh chicken business in the UK with Faccenda’s fresh chicken, turkey and duck business.
In October 2017, the Commission granted a request to refer the assessment of the transaction’s effects on competition in the UK to the UK competition authority. The Commission said it had found the remainder of the transaction would raise no competition concerns because the companies’ market shares are small in the relevant areas outside the UK. The transaction was examined under the simplified merger review procedure.
The deal still has to be approved in the UK by the Competition and Markets Authority (CMA), which is expected to report in December.