Beijer Ref cleared to acquire Realcold
NEW ZEALAND: Beijer Ref’s subsidiary B100 Ltd has been given clearance to acquire the business and assets of New Zealand refrigeration wholesaler Realcold.
The deal, first announced at the end of July, was referred to the New Zealand Commerce Commission over concerns that it might result in a substantial lessening of competition, particularly in the light of Beijer Ref’s purchase of another New Zealand wholesaler Patton earlier in the year.
The Commission recognised that the businesses of Realcold and Patton potentially overlapped in a number of areas, including the importation and wholesale supply of refrigerants, refrigeration components, and refrigeration equipment. Both businesses have branches across the country.
Consideration is said to have been given to the competitive effects of the merger in the supply of refrigeration components and refrigerants in regional areas, given the time critical nature of refrigeration repairs.
“The Commission is satisfied that the merger will not have, or would not be likely to have, the effect of substantially lessening competition in the affected markets,” announced Commission chairman Dr Mark Berry.
“In our investigation we found that Patton and Realcold were major suppliers of refrigerants and refrigeration components. However, strong competition would continue across all these markets, including regional areas, from Heatcraft, Refrigeration Specialists and from other competitors who compete in specific markets such as refrigerants,” said Dr Berry.
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