Meat processor Anzco Foods granted Commerce Commission clearance to buy Greenlea Group in $800m deal

‌

Subscribe to listenAccess to Herald Premium articles require a Premium subscription. Subscribe now to listen.Subscribe now

‌

SaveShare this articleCopy LinkEmailFacebookTwitter/XLinkedInReddit

Meat processor Anzco Foods has been given the green light to purchase Greenlea Group in a deal worth about $800 million.

The Commerce Commission granted clearance for the acquisition after finding it is unlikely to substantially lessen competition in any New Zealand market.

“Our investigation indicated that the merged entity
will face sufficient competitive constraint in the acquisition of cattle for processing and supply of processed beef products, beef by-products and rendered products by the presence of other existing competitors,” commission chairman Dr John Small said.

“We do not consider that the acquisition will change conditions in any relevant acquisition or supply markets such that co-ordination is more likely.”

The deal includes Greenlea Premier Meats and Greenlea’s interest in the Waitoa Estate and its associated businesses.