2 Sisters Food Group welcomes OFT decision on acquisition of Vion UK poultry business
2 Sisters Food Group welcomes OFT decision on acquisition of Vion UK poultry business
2 Sisters Food Group has welcomed the decision by the UK’s Office of Fair Trading (OFT), which published its review into the acquisition of Vion’s UK poultry business by 2 Sisters Food Group.
The OFT has fully reviewed the transaction, including the combination of the poultry businesses owned by both parties, and concluded that there is not a competition issue. The integration of both the red meat business and poultry business can now proceed.
2 Sisters said it welcomed the timely outcome of the OFT’s review, which now enables the Group to move forward with plans to invest and improve the Vion business, which remains loss making, and further develop the Red Meat (beef and lamb) business, which offers growth potential. The outcome also ends any uncertainty for our employees, for our customers and for farmers and other suppliers who serve these sites.
2 Sisters also said the deal is good news for UK consumers, who will benefit from a secure supply of British meat and continued fierce competition amongst the supplier base, with both domestic manufacturers and imported chicken from a number of countries across the world.
The OFT’s announcement can be viewed by clicking here.
