On 31 January 2018, the Finnish Competition and Consumer Authority approved the acquisition of Myllyn Paras Oy, MP Tehdaspalvelut Oy, Myllyn Paras Oy Pakasteet and MP Pakastetehdaspalvelut Oy by Sponsor Fund IV. The FCCA has concluded that the acquisition will not significantly impede effective competition in the Finnish market.
Sponsor Fund IV is a fund managed by the Finnish private equity investor Sponsor Capital. Myllyn Paras and Myllyn Paras Oy Pakasteet manufacture, sell and market grain-based products, frozen dough and frozen bakery goods in Finland. MP Tehdaspalvelut and MP Pakastetehdaspalvelut own the plant properties used by Myllyn Paras and Myllyn Paras Oy Pakasteet.
The regulatory reviews conducted by the FCCA did not reveal any harmful effects on competition related to the acquisition. None of the companies in the portfolio of Sponsor Capital operate in the food industry, and the parties have no overlapping operations.
The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed, i.e. in around two weeks’ time.
Further information:
- Senior Research Officer Laura Kauppila tel. +358 (0)29 505 3335, email: firstname.lastname@kkv.fi.
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover from Finland of at least two of the parties exceeds a combined total of 20 million euros. The FCCA will approve a corporate transaction if it has none of the harmful impacts referred to in the Competition Act. The FCCA will intervene in corporate transactions if its investigations suggest that the acquisition substantially impedes effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.