The competition watchdog has launched an investigation into the £75m sale of Hovis to Primark’s owner.
The Competition and Markets Authority (CMA) probe will look at whether the merger between the bread-maker and Associated British Foods (ABF) would result in ‘a substantial lessening of competition’.
The FTSE 100 giant’s Allied Bakeries unit includes Kingsmill, Allinson’s, and Sunblest. ABF agreed to buy 135-year-old Hovis from the private equity firm Endless in August.
Probe: The competition watchdog has launched an investigation into the £75m sale of Hovis to Primark’s owner
A CMA probe is expected because Hovis holds about 18 per cent of the sliced and packaged bread market, and ABF 6 per cent. The combined group could overtake industry leader Warburtons.
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