Bernard Matthews acquisition cleared by CMA
The Competitions Market Authority (CMA) has cleared the acquisition of Bernard Matthews by Boparan Private Office.
In a statement on its website the CMA said: “The CMA investigated and cleared the completed acquisition by enterprises conducted by Ranjit Boparan and Baljinder Boparan of the business formerly carried on by Bernard Matthews Limited.”
Boparan Private Office, the private investment vehicle of Boparan, bought the Bernard Matthews business and assets through a pre-pack sale in September 2016. However, the case went under investigation in October 2016 after the CMA believed there was “reasonable grounds for suspecting that it is or may be the case that enterprises conducted by Ranjit Boparan and Baljinder Boparan and the business formerly carried on by Bernard Matthews Limited have ceased to be distinct.”
Since the confirmation of the acquisition, the deal has had numerous complications and earlier this week it was reported that trustees and the Pension Protection Fund were investigating whether cash was taken from the Bernard Matthews pension scheme when the company went into administration.
Further details of the clearance decision are due to be released by the CMA shortly.
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