Pork Farms gets go ahead to buy Kerry Foods pastry division by Competition Markets Authority
The Pork Farms acquisition of Kerry Foods’ chilled savoury pastry business has been given the green light by the Competition and Markets Authority (CMA).
Walls Pastries (under licence) and Millers will now join the Pork Farms Group stable of brands, which include Pork Farms, Bowyers, No G and Farmhouse.
The acquisition provides Pork Farms Group with two additional sites, one in Spalding, Lincolnshire and the other in Poole, Dorset, giving the Group greater depth and breadth in the chilled savoury pastry category.
The deal was referred for an in-depth investigation by the CMA in January 2015 amid concerns it may lead to higher prices or a reduction in choice or quality for consumers.
However, in its final decision, the group of CMA panel members concluded that it is not expected to result, in a substantial lessening of competition, and hence higher prices or lower quality for retailers or consumers of the products affected by the merger.
Chris Peters, group managing director at Pork Farms Group, said: “The CMA’s decision marks the start of an incredibly exciting new time for our business and our employees. The acquisition gives our business greater capabilities and opportunities for the future, allowing us to expand our product range through innovation and consumer insight delivered by a strong and talented team.
Peters said the deal also allows Pork Farms Group to further invest in facilities, insight and innovation to develop its product set into chilled convenience categories
“Following the CMA’s formal clearance, our priority is to move ahead to integrate the Spalding and Poole businesses into the Pork Farms Group,” he added. “We will now take stock of our entire business, taking into account our employees’, customers’, owners’ and suppliers’ needs, to help us define the future direction of the new Group and fulfil opportunities in what is an exciting and pivotal time in the UK chilled food market.”
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- pastry business
- savoury pastry
- chilled savoury
- kerry foods’ chilled
- savoury pastry business
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- foods’ chilled savoury
- markets authority cma
- chilled savoury pastry
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