ABF: EU Commission clears acquisition of GBI

Brussels / BE. (abf) Associated British Foods (ABF) won conditional approval from European Union competition regulators to buy some assets and subsidiaries of GB Ingredients BV of the Netherlands. The European Commission´s in-depth investigation, opened in April, had indicated that the deal initially would have raised competition concerns in the markets for compressed baker´s yeast in Spain and Portugal, a statement from the EU executive said. «To remedy the Commission´s concerns, ABF offered to divest the GBI businesses in Spain and Portugal, whilst ensuring that these businesses will be linked to a sufficient production capacity», the statement said. ABF is an international food, ingredients and retail group whose activities include the production and sale of yeast. The core activity of the GBI assets to be acquired is the production and sale of different types of yeast.

bakenet:eu