Subscribe & Follow

Advertise your job vacancies

Tribunal approves Blue Falcon, Denny Mushrooms deal

2 Sep 2011

The Competition Tribunal has approved the merger between Blue Falcon and Denny Mushrooms.

Tribunal approves Blue Falcon, Denny Mushrooms deal

In the transaction, Blue Falcon intends to acquire all the ordinary share capital and claims in Denny Mushrooms from the JSE-listed consumer goods group AVI.

Blue Falcon is controlled by RMB Ventures Six, the investment banking arm of FirstRand, while Denny Mushrooms produces and processes fresh, canned and value-added mushroom products such as soups and sauces.

The Competition Commission earlier assessed the merger and concluded that it was unlikely to raise significant competition concerns. It therefore recommended that the tribunal approve this transaction without conditions.

AVI had previously said "while Denny is a sound business with the leading national brand in the fresh and canned mushroom categories, the importance of branding in the 'fresh to market' produce segment in general and in the fresh mushroom segment in particular has declined over the past several years and this category is no longer strategically aligned to AVI's growth ambitions".

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za