Commission clears Proctor & Gamble to acquire Wella
Published12 Jun 2003
Issued 12 June 2003
The Commerce Commission has cleared Procter & Gamble Distributing New Zealand Limited (P&G) to acquire the assets and stock of Wella New Zealand Limited (Wella).
The application forms part of the global acquisition by the Procter & Gamble Company of the business of Wella AG.
P&G is a subsidiary of the Procter & Gamble Company. The principal activity of P&G in New Zealand is the supply of hair care, styling and colouring products, deodorants, aftershave, moisturisers, cough/cold remedies, laxatives, feminine sanitary products, fabric freshener and Pringles chips.
Wella is a wholly owned subsidiary of Wella AG. Wella's principal activity in New Zealand is the supply of hair care, styling and colouring products.
The Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in the markets for supply of hair care products, hair colourants, and hair styling products. There is a number of strong competitors in each market that will provide a constraint on the merged company.
The Commission will publish its written report on its website, www.comcom.govt.nz/adjudication, shortly.
