Summary

Linfox Armaguard Pty Ltd (Armaguard) and Prosegur Australia Holdings Pty Limited (Prosegur) sought merger authorisation to combine their cash distribution and management, device monitoring and maintenance and ATM businesses in Australia (the Proposed Transaction).

Armaguard and Prosegur both offer cash-in-transit (CIT) services, including cash storage, transport and processing in Australia. CIT services are predominantly provided to banks and both large and small retailers.

Armaguard and Prosegur also supply other services including operating ATM networks, ATM device monitoring and maintenance services and valuable cargo transport services.

On 21 December 2022, the Australian Competition and Consumer Commission (ACCC)  released a Statement of Preliminary Views, available below under ‘Consultations’. This document provided a summary of issues raised during the market inquiries consultation process and outlined the ACCC’s preliminary views about the Proposed Transaction and issues about which it sought further information.

On 9 March 2023, the Applicants provided their submission in response to the ACCC’s Statement of Preliminary Views, which includes a proposed court enforceable undertaking to the ACCC (the Proposed Undertaking).

On 1 May 2023, the Applicants provided a revised version of the Proposed Undertaking to the ACCC (the Revised Proposed Undertaking).

On 21 May 2023, the Applicants provided their submission responding to market feedback on the Revised Proposed Undertaking, as well as a further revised undertaking to the ACCC (the Further Revised Proposed Undertaking).

The ACCC usually has 90 days from the date that the application was lodged to make its decision, although it can extend the timeframe if the Applicants agree. The Applicants have agreed to a further extension to the timeframe for the ACCC to make a decision, until 14 June 2023, to allow the ACCC sufficient time to complete its assessment.

On 13 June 2023, the ACCC granted authorisation subject to the condition that the Applicants give, and comply with, an undertaking (in the form at Attachment A to the ACCC’s determination) to the ACCC under section 87B of the Act (the Undertaking). The authorisation is effective for a period of 12 months until 13 June 2024. 

The full reasons for the ACCC’s determination is available below under ‘Decisions’ and a fully executed copy of the Undertaking is available below under ‘Other’ and on the ACCC’s s 87B Undertakings register.

Applicant(s)

  • Linfox Armaguard Pty Ltd
  • Prosegur Australia Holding Pty Ltd

Target(s)

  • N/A

Authorisation number(s)

  • MA1000022-1

Applications

Submissions

Document title Date
Next Payments
Applicants’ Submission responding to Market Feedback
Streamcorp Armoured
Commonwealth Bank of Australia
Australia and New Zealand Banking Group
Multi-store retail chain
National Australia Bank
Next Payments
Woolworths Group Limited
Transport Workers Union
Coles Group Limited
Bendigo and Adelaide Bank
NCR Australia Group
Reserve Bank of Australia
Authentic Security
Next Payments
NCR Australia Group
NSW Farmers’ Association
Coles Group Limited
Multi-store retail chain
Reserve Bank of Australia
NCR Australia Group
National Australia Bank
Westpac
Authentic Security
Commonwealth Bank of Australia
Woolworths Group Limited
Maximum Protection
Bendigo and Adelaide Bank
Transport Workers’ Union of Australia
Next Payments
Australian Hotels Association
Applicants’ response to Statement of Preliminary Views and Applicants’ Proposed Undertaking
Supplementary witness statement of Catherine Canham
Witness Statement of Peter Donald Fox
Witness Statement of Sunny Gill
Maximum Protection
Maximum Protection
Transport Workers’ Union of Australia
Witness Statement of Michael Douglas Shipton
Second Witness Statement of Matthew Stephen Sykes
Australian Security Industry Association Ltd
Reserve Bank of Australia
Next Payments
Australian Retailers Association
Bendigo and Adelaide Bank
Authentic Security
Multi-store retail chain
NCR Australia Group
Maximum Protection
Australian Association of Convenience Stores
Maximum Protection
Westpac
Woolworths Group Limited
Commonwealth Bank of Australia
CRA Report for Next Payments
Westpac
Next Payments
Multi-store retail chain
Bank of Queensland
Wesfarmers
NCR Australia Group
HoustonKemp Report for NCR Australia Group
Coles Group Limited
National Australia Bank
Reserve Bank of Australia
Australian Military Bank
Australian Hotels Association
An Interested Party
Australian Security Industry Association
Streamcorp
Diebold Nixdorf Australia
Brinks Global Services
Authentic Security
Commander Security Services
Giesecke+Devrient
Bendigo and Adelaide Bank
Cuscal
Australian Retailers Association
Authentic Security
Cash Processing Solutions
Australian Finance Industry Association
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