The Commerce Commission today cleared Turners & Growers Limited (T&G) to acquire United Flower Auction Limited (UFA). The clearance excludes the export business of UFA.

Commissioner Dr Kate Brown said that the Commission was satisfied that, should the acquisition go ahead, T&G would not acquire or strengthen a dominant position in the national market for the wholesale distribution of cut flowers.

Dr Brown said that the Commission is satisfied that existing competition from cut flower wholesalers, brokers and from growers selling directly to buyers would constrain a combined T&G and UFA. Further, the Commission considered that barriers to entry into this market are not onerous.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets.

Media contact: Commerce Act Manager Geoff Thorn

Phone work (04) 498 0958

Communications Officer Vincent Cholewa

Phone work (04) 498 0920

Commission media releases can be viewed on its web site www.comcom.govt.nz