NZ: Suntory's Frucor gets Simply Squeezed buy green light
Frucor Beverages has received clearance from the authorities in New Zealand to proceed with its planned purchase of Simply Squeezed Holdings in the country.
The transaction, announced early last month, was okayed by the New Zealand Commerce Commission yesterday (25 August).
Commerce Commission chair Dr Mark Berry said that the Commission was "satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in the national market for the manufacture/import and supply of fruit beverages".
Frucor is a subsidiary of Japanese drinks group Suntory Holdings, and is the second largest supplier of non-alcoholic beverages in New Zealand behind Coca-Cola Amatil. The company owns and manufactures the Just Juice, Fresh Up, Arano, Joo-C, Citrus Tree, McCoy and Twist fruit beverage brands.
Simply Squeezed owns or manufactures the Simply Squeezed, Allganics, Supreme Country Style and Bay Harvest brands.
Last month, the Commerce Commission said it was looking to prosecute Simply Squeezed for issuing alleged misleading information in a television advert for Simply Squeezed Chilled Orange Juice, which ran between March and May last year.
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