McCain applies for clearance to acquire Heinz Wattie's Feilding factory
Published18 Apr 2001
The Commerce Commission has received an application from McCain Foods (NZ) Limited to acquire Heinz Wattie's Limited's potato and vegetable processing factory at Feilding.
The McCain family in Canada ultimately owns McCain Foods. The McCain group of companies' primary activity is the manufacture of frozen foods, especially French fries, for which it is responsible for one third of total global production.
Heinz Wattie's ultimate parent is H.J.Heinz Company, a global food products manufacturer based in the United States.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Commission must determine what markets are relevant to the proposal, and then assess what impact the proposal would have on competition in those markets.
The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. The Commission will give a clearance if it is satisfied that dominance is not acquired or strengthened.
The Commission has 10 working days in which to make its decision but the Act allows for extensions of time if necessary. Working day 10 will be May 1.
Public copies of McCain's application will be available within a few days.
