CMA clears Cargill and Faccenda joint venture

The Competition and Markets Authority (CMA) has cleared the anticipated joint venture between Cargill Inc and Faccenda Investments Limited. 

First announced in September, the deal will see Cargill’s fresh chicken business in the UK joining Faccenda’s fresh chicken, turkey and duck business to form a new company. 

The deal hopes to “bring together two complementary businesses with a track record of success, shared values and a strong reputation in the UK poultry market”. The deal received clearance by the European Commission last month. 

Under the arrangement, Andy Dawkins, managing director for Faccenda Foods, will be appointed chief executive officer of the newly formed company while Chris Hall, fresh chicken director for Cargill Meats Europe, will be appointed chief commercial officer of the new joint venture. 

With this clearance, the joint venture is expected to be in operation by January 2018. 

In a statement, Faccenda Foods said: “We are excited to announce that we have received approval from the UK Competition and Markets Authority (CMA) to create a leading UK food company focused on chicken, turkey and duck. Faccenda Foods will join Cargill’s UK fresh chicken business form the standalone joint venture.

“We are very pleased with the decision of the CMA and we currently anticipate that we will be operating as a standalone joint venture by the end of January 2018. This joint venture will provide a solid platform for innovation and growth, bringing together two complementary businesses with talented people and strong reputations for high standards and great service.

“While the approval signifies the latest step in our integration journey, we will continue to operate and compete as independent businesses until Day 1 of the joint venture. As such there will be no immediate change to how we serve our customers and partner with our suppliers and growers.”

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