BRAZIL/EU: European Commission okays Citrosuco, Citrovita merger
The European Commission has given the green light to the merger of Brazil's Citrosuco and Citrovita
The creation of the world’s largest wholesale supplier of orange juice will not cause competition problems in the European Union (EU) and should receive regulatory approval, the European Commission has concluded today (May 4).
This new mega-supplier will be created via a joint-venture of Brazilian orange juice giants Citrovita, owned by the Votorantim group, and Citrosuco, controlled by Fischer group.
The move, originally announced a year ago, sparked an investigation by the Commission, the EU’s chief competition authority. But, it concluded that “there will remain sufficient competition” in affected markets and has allowed the joint venture to trade in Europe without conditions.
The Votorantim-Fischer combine creates the world's largest producer and supplier of orange juice for branded and private label sale. The companies mostly overlap in frozen concentrated orange juice, but, even here, they would “continue to face competitive pressure from other established suppliers”, the Commission ruled.
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