Refresco / Cott merger inquiry

The CMA is investigating the completed acquisition by Refresco Group N.V. of the traditional non-alcoholic beverage business of Cott Corporation Inc.

Statutory timetable

Phase 1 date Action
29 March 2018 Undertakings in lieu of reference accepted
8 February 2018 Decision published
1 February 2018 Initial enforcement order
3 January 2018 Decision announced
30 October to 13 November 2017 Invitation to comment
27 October 2017 Launch of merger inquiry

Phase 1

Undertakings in lieu of reference accepted

29 March 2018: The CMA has accepted undertakings in lieu of reference for the acquisition by Refresco Group NV of the traditional beverages business of Cott Corporation Inc. A copy of the undertakings and the decision is available below.

Directions to appoint a monitoring trustee

8 February 2018: On 5 February 2018, pursuant to an initial enforcement order dated 31 January 2018, the CMA directed Refresco Group N.V. to appoint a monitoring trustee.

Initial enforcement order

31 January 2018: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Refresco Group N.V. and Refresco Beverages Ltd in relation to the completed acquisition by Refresco Group N.V. of the traditional beverages business of Cott Corporation Inc

Amendments/consents granted

Undertaking in lieu of reference consultation: open

8 March 2018: We are consulting on proposed undertakings in lieu (UIL) of a reference for the acquisition by Refresco Group N.V. of the traditional beverages business of Cott Corporation Inc.

CMA to consider undertakings offered

17 January 2018: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Refresco, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.

Reference unless undertakings accepted

3 January 2018: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Notice of extension of the preliminary assessment period

Invitation to comment: closes 13 November 2017

30 October 2017: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

Launch of merger inquiry

27 October 2017: The CMA announced the launch of its merger inquiry by notice to the parties.

Contact

Please send written representations about any competition issues to:

Nick Wright
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

Nick.Wright@cma.gsi.gov.uk

Published 30 October 2017
Last updated 3 April 2018 + show all updates
  1. Undertakings in lieu acceptance decision published.
  2. Decision announced: Undertakings in lieu of reference accepted.
  3. Derogation published.
  4. Notice of consultation, extension and undertakings published.
  5. Full text decision, decision that undertakings might be accepted and directions to appoint a monitoring trustee published.
  6. Initial enforcement order and derogation published.
  7. CMA to consider undertakings offered.
  8. Decision announced: Reference unless undertakings accepted.
  9. Notice of termination of extension published.
  10. Notice of extension published.
  11. First published.