UK's CMA Clears Samworth Brothers' Takeover Of 2 Sisters Sandwich Business
The UK's Competition & Markets Authority has cleared the takeover of the sandwich business of 2 Sisters Food Group.
In a statement on its website, the CMA noted that it 'investigated and cleared the anticipated acquisition by Samworth Brothers Limited of the Manton Wood Manufacturing Site of Boparan Holdings Limited (2 Sisters Food Group)'.
The decision was announced on 24 December, approximately one month on from the announcement of the CMA's merger enquiry (23 November).
At the time that the disposal was announced, at the start of November, the president of Boparan Holdings – the parent company of 2 Sisters Food Group – Ranjit Singh Boparan, described it as a “significant deal”, adding that it “ensures Manton Wood is sold to a good new home that will enable it to continue to flourish and thrive.
“Any sale we make has to be at the right time, with the right buyer, and it has to be a deal that fits with our long-term strategy. This deal does just that,” added Singh Boparan.
Newly appointed chief executive Ronald Kers recently indicated that he wished to “accelerate the pace” of turnaround in the performance of the 2 Sisters business.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.