ACCC op­poses drink takeover

Townsville Bulletin - - Investor -

THE competition watch­dog has poured cold wa­ter on a pro­posed takeover in­volv­ing two ma­jor cor­dial and soft drink pro­duc­ers.

The Aus­tralian Competition and Con­sumer Com­mis­sion says it will op­pose Asahi Hold­ings ( Aus­tralia) Pty Ltd’s pro­posed ac­qui­si­tion of P& N Bev­er­ages Aus­tralia Pty Ltd.

Asahi owns Sch­weppes Aus­tralia Pty Ltd, the sec­ond largest man­u­fac­turer of car­bon­ated soft drinks in Aus­tralia and the largest man­u­fac­turer of cor­dial.

Its brands in­clude Sch­weppes, Pepsi and Cot­tee’s.

P& N is the third largest maker of car­bon­ated soft drinks and cor­dial, and is the largest sup­plier of pri­vate­la­bel soft drinks in Aust r a l i a . A C C C c h a i r ma n Graeme Sa­muel said the com­mis­sion was con­cerned t he pro­posed ac­qui­si­tion would re­move ‘‘ a vig­or­ous and ef­fec­tive com­peti­tor’’ in the mar­ket place.

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