The UK Competition and Markets Authority (CMA) clears Associated British Foods (ABF), the owner of Kingsmill, to buy Hovis in a deal worth about £75m. Multiple outlets report that the CMA finds no competition concerns from the proposed takeover. According to the CMA’s assessment cited by The Guardian, if the transaction did not proceed, the most likely outcome would be ABF’s bakeries arm leaving the UK market entirely. On that basis, the CMA concludes the acquisition does not substantially lessen competition in the relevant markets. Other coverage reiterates that the regulators’ approval means the takeover can proceed, framing the decision as an “all clear” for ABF to create a larger UK bread business. Coverage also notes that the transaction is intended to combine major bread brands under ABF’s control, although the sources provided focus primarily on the CMA’s competition assessment and approval rather than specific regulatory conditions or implementation details.
CMA clears ABF’s £75m takeover of Hovis, allowing Kingsmill owner to expand
The UK Competition and Markets Authority (CMA) clears Associated British Foods (ABF), the owner of Kingsmill, to buy Hovis in a deal worth about £75m. Multiple outlets report that the CMA finds no com...
- The CMA clears Associated British Foods’ proposed takeover of Hovis.
- The deal is reported at around £75m.
- The CMA finds the merger does not raise competition concerns.
- The CMA says the most likely alternative if the deal fails is ABF’s bakeries arm leaving the UK market.
- Sources agree the takeover can proceed following regulators’ approval.
The UK’s competition authority has given its approval to Associated British Foods’ acquisition of rival baker Hovis. The post UK watchdog clears ABF’s deal to buy bread rival Hovis appeared first on Just Food.
2 months agoThe takeover of Hovis by Kingsmill owner Associated British Foods (ABF) has been cleared by UK regulators.
2 months agoThe takeover of Hovis by Kingsmill owner Associated British Foods (ABF) has been cleared by UK regulators.
2 months agoHovis: Merger of two major NI bakeries approved by watchdog BBCKingsmill owner cleared to create UK’s biggest bread brand with Hovis takeover The GuardianCMA clears ABF’s deal to buy bread maker Hovis GOV.UKAssociated British Foods toasts approval for £75m Hovis takeover City AMCMA clears AB Foods’ acquisition of Hovis Sharecast.com
2 months agoABF’s bakeries arm would be likely to exit the market entirely if the deal did not proceed, CMA findsBusiness live – latest updatesA £75m deal for the owner of Kingsmill to buy Hovis to create the UK’s biggest bread brand has been cleared by the competition watchdog.The Competition and Markets Authority (CMA) ruled that Associated British Foods’ proposed takeover of Hovis did not raise competition concerns because if the deal did not go ahead “the most likely outcome” would be ABF’s bakeries arm leaving the UK market entirely. Continue reading...
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