The Australian Competition and Consumer Commission will not oppose the acquisition by Peerless Holdings Pty Ltd of Unilever Australia Ltd's non-retail margarine and edible oils business and three retail margarine brands, ACCC Chairman, Mr Graeme Samuel, said today.
"Critical to the ACCC's decision was the fact that imports of edible oils are and are likely to remain a significant constraint preventing any exercise of market power by the merged entity", Mr Samuel said. "In view of potential constraints, particularly import competition, the ACCC does not consider it likely that this acquisition will lead to a substantial lessening of competition".
The ACCC examined the national markets for refined bulk edible oils, bakery fats and retail margarine.
Given that Unilever will retain it core margarine business the ACCC focused its attention on bulk edible oils and bakery fats, Mr Samuel said.