£75m Hovis deal faces watchdog investigation
The competition watchdog has launched an investigation into the £75m sale of Hovis to Primark’s owner.
The Competition and Markets Authority (CMA) probe will look at whether the merger between the bread-maker and Associated British Foods (ABF) would result in ‘a substantial lessening of competition’.
The FTSE 100 giant’s Allied Bakeries unit includes Kingsmill, Allinson’s, and Sunblest. ABF agreed to buy 135-year-old Hovis from the private equity firm Endless in August.
Probe: The competition watchdog has launched an investigation into the £75m sale of Hovis to Primark’s owner
A CMA probe is expected because Hovis holds about 18 per cent of the sliced and packaged bread market, and ABF 6 per cent. The combined group could overtake industry leader Warburtons.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Freetrade
Freetrade
Investing Isa now free on basic plan
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.