Vita NZ cleared to acquire assets of Pacific Brand
Vita NZ cleared to acquire assets of Pacific Brands
The Commerce Commission has today given clearance for Vita New Zealand to acquire all of the New Zealand foam, flooring and bedding businesses of Pacific Brands.
Vita is a privately owned company active in the manufacture of foam, carpet underlay and a range of furniture and consumer products.
Pacific Brands' activities in New Zealand include the manufacture and importation of foam, the importation of carpet underlay and the manufacture of bedding.
Commerce Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
In the foam market, the merged entity would face constraints from a new entrant (Sleepyhead), an existing supplier (Enviro-foam), and imports. It would face constraints in the carpet underlay market from existing suppliers and imports.
A public version of the written reasons for the decision will be available as soon as practicable on the Commission's website, www.comcom.govt.nz under Public Registers.