Mainland applies to acquire Southern Fresh

Thursday, 19 April 2001, 6:25 pm
Press Release: Commerce Commission

Media Release

Issued 19 April 2001/40

Mainland applies for clearance to acquire Southern Fresh

The Commerce Commission has received an application from Mainland Products Limited for clearance to acquire Southern Fresh Milk Company Limited.

Commission Chair John Belgrave said that Mainland is 83 percent owned by the country's second largest dairy company, Kiwi Co-operative Dairies Limited. Kiwi has dairy industry interests throughout the country. Southern Fresh is an Invercargill-based processor and wholesaler of town milk. It also manufactures ice cream for export.

Mr Belgrave said that the Commission must determine what markets are relevant to the proposal, and then assess what impact the proposal would have on competition in those markets.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. The Commission will give a clearance if it is satisfied that dominance is not acquired or strengthened.

The Act gives the Commission 10 working days in which to make its decision. Working day 10 will be May 2. Public copies of Mainlands application will be available within a few days.

Media contact: Senior Advisor Communications Vincent Cholewa Phone work (04) 498 0920

Commission media releases can be viewed on its web site www.comcom.govt.nz

Regards Leo van Schyndel Records Officer Corporate Services Direct dial : (04) 498-0929 E-mail : leo.vanschyndel@comcom.govt.nz

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