Commission clears Coca Cola to acquire Rio
Commission clears Coca Cola to acquire Rio Beverages
The Commerce Commission has approved clearance applications from The Coca-Cola Company (TCCC) to acquire the trademarks and intellectual property associated with the brands owned by Rio Beverages Limited (Rio Beverages) and from Coca-Cola Amatil (NZ) Limited (CCA NZ) to acquire the remaining business assets necessary to operate the Rio Beverages business.
TCCC is involved in the ownership of trademarks used to identify non-alcoholic beverages as well as the manufacture and sale of concentrates and beverage bases. It has one subsidiary in New Zealand, Coca-Cola Oceania Limited.
CCA NZ is involved in the manufacture, distribution and sale of non-alcoholic beverages and is a wholly owned subsidiary of Coca-Cola Amatil Limited, an Australian listed company. TCCC, through various wholly owned subsidiaries, owns approximately 35% of Coca-Cola Amatil Limited.
Chair John Belgrave said the Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in any of the affected markets.
The Commission’s written decision on the application will be available soon on the Commission’s website, http://www.comcom.govt.nz/adjudication.