Brussels, 5 June 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Special New Fruit Licensing Holding Company S.L. (‘SNFL’) of Spain and International Fruit Genetics LLP (‘IFG’) of the US by EQT AB of Sweden and AM Fresh Group UK Limited (‘AM Fresh’) of the UK.
SNFL and IFG both breed and develop new protected varieties of table grape vines and license them worldwide. EQT is a private equity fund manager. AM Fresh is active in the growing of fruits (including table grapes) and vegetables, as well as in the wholesale commercialisation of chilled fruits and the production and commercialisation of juices, smoothies, and healthy drinks for distributors’ own brands.
The Commission concluded that the proposed acquisition would not raise competition concerns. While the companies compete in a variety of patented table grapes, they will continue to face several international and regional players in the EU. Moreover, the Commission found that the companies will have no incentives to discontinue any grape variety or to decrease quality or research and development (‘R&D’) efforts after the transaction. Moreover, AM Fresh would have no ability or incentive to engage in foreclosure practices against table grapes’ breeders nor growers. The transaction was examined under the normal merger review procedure.
In the framework of its investigation, the European Commission cooperated with the US Authorities. While the companies operate globally, the markets for table grapes varieties are different across Europe and the US.
More information is available on the Commission’s competition website, in the public case register under the case number M.10783.
Source – EU Commission