LONDON (dpa-AFX) - Wednesday, the UK's Competition and Markets Authority has raised competition concerns regarding the acquisition by McCormick & Company, Incorporated (MKC) of substantially all of Unilever PLC's global food business.
The CMA stated in a press release that the deal 'gives rise to a realistic prospect of a substantial lessening of competition as a result of horizontal unilateral effects in the supply of dry ingredient mixes and separately, the supply of dry sauces to retailers in the United Kingdom.'
Following an initial review, the competition watchdog noted that the merger would combine the two largest branded suppliers, making the merged entity the largest supplier of dry ingredient mixes and dry sauces by far.
Also, the CMA found that it is difficult to enter and/or expand in dry ingredient mixes and dry sauces, due to limited shelf space in supermarkets and the well-established position of existing suppliers.
The regulator added that the companies could offer remedies for the competition concerns till November 18, 2026. In case no remedies are provided, the CMA would refer the merger for an in-depth Phase 2 investigation.
In pre-market hours, UL was trading at $65.67, down 1.20 percent, and MKC was trading at $46.38, down 0.73 percent on the NYSE.
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