Clearance application from ABF Overseas Limited

Wednesday, 4 August 2004, 10:17 am
Press Release: Commerce Commission

Commission receives clearance application from ABF Overseas Limited

The Commerce Commission has received an application from ABF Overseas Limited seeking clearance to acquire 100 percent of the shares of New Zealand Food Industries Limited, the New Zealand yeast business of Burns, Philp & Company Limited Group, from Burns Philp.

The proposed acquisition is part of a global acquisition that will have the effect of transferring the international yeast, bakery ingredients and US herbs and spices businesses of Burns Philp to ABF Overseas.

ABF Overseas is a wholly-owned subsidiary of ABF plc, an international food, ingredients and retail group based in the United Kingdom with manufacturing operations across Europe, North America, Asia, Australia and New Zealand.

New Zealand Food Industries is involved in the manufacture of fresh and specialty dry yeast products.

Burns Philp is incorporated in Australia and is a global yeast, food ingredients and consumer-branded food products manufacturer. In February 2003, the Commission cleared Burns Philp to acquire up to 100 percent of the share capital of Goodman Fielder Limited subject to the divestment of New Zealand Food Industries.

In considering this new application, the Commission’s role is to determine whether the proposed acquisition has the effect of substantially lessening competition in a market.

A public version of the application will be available shortly on the Commission’s website under Adjudication.

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