The Commerce Commission has received an application for a newly formed company, Tuakau Proteins Ltd, to acquire certain animal rendering business interests from Graeme Lowe Protein Ltd, and Kakariki Proteins Ltd.
The Commerce Commission has received an application for a newly formed company, Tuakau Proteins Ltd, to acquire certain animal rendering business interests from Graeme Lowe Protein Ltd, and Kakariki Proteins Ltd.
Tuakau Proteins will acquire Graeme Lowe Protein’s bovine rendering plant and equipment situated at Hawera and Tuakau. In addition, Tuakau Proteins will acquire 50% of the shares in Kakariki Proteins from Mr Stephen Dahlenburg.
Tuakau Proteins will be 50.1% owned by Graeme Lowe Protein and 49.9% owned by Glenninburg Holdings Ltd. Glenninburg Holdings will be 75% owned by Taranaki By-Products limited and 25% owned by Mr Dahlenburg.
All of the merging parties are active in the rendering industry, which involves the processing of waste animal material into usable products such as animal food supplements, edible and inedible tallows, and meat and bone meals.
A public version of the application will be available shortly on our Clearances Register.
Background
Assessing an application for a merger or acquisition
When considering a proposed merger (or amalgamation), the Commission must decide whether the competition that is lost in a market when two businesses merge is substantial. We will give clearance to a proposed merger only if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
A fact sheet explaining how the Commission assesses a merger application is available on the Clearances page.
