ACCC opposes drink takeover
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.