AMFresh of the UK and private equity fund manager EQT of Sweden have acquired Special New Fruit Licensing Holding Company (SNFL) of Spain and International Fruit Genetics LLP (IFG) of the US.
The deal was approved by the European Commission under the EU Merger Regulation.
AMFRESH is active in growing table grapes, other fruits, and vegetables. SNFL and IFG both breed and develop new protected varieties of table grape vines and license them worldwide.
The Commission concluded that the proposed acquisition would not raise competition concerns.
While the companies compete in a variety of patented table grapes, they will continue to face several international and regional players in the EU.
Additionally, the Commission found that both companies will have no incentive to discontinue any grape variety or decrease quality or research and development efforts after the transaction.
Moreover, AMFRESH would have no ability or incentive to engage in foreclosure practices against table grapes breeders or growers. The transaction was examined under the normal merger review procedure.
In its investigation, the European Commission cooperated with the U.S. authorities.
While the companies operate globally, the markets for table grape varieties are different across Europe and the US.