TEC Projects Limited granted clearance to buy Tecpak Industries Limited
The Commerce Commission has granted clearance for TEC Projects Limited to acquire Tecpak Industries Limited.
The Commission considered the impact of the acquisition on the national market for the manufacture and supply of certain plastic food containers.
Commerce Commission Chair Dr Mark Berry said the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in the relevant market.
The Commission considers the merged entity is likely to be constrained by a combination of existing competition, the ability of these existing competitors to easily expand, and the countervailing power of large customers that could threaten to switch, support expansion by a smaller manufacturer, or sponsor new entry.
A public version of the written reasons for the decision will be available as soon as practicable on the Commission’s website at www.comcom.govt.nz/clearances-