Fressnapf had already reported the fundamental approval of the competition authority on its website a few days ago (see PET worldwide newsletter dated 10 March), but without giving any details.
Cinven, majority shareholder of the leading Italian pet store chain Arcaplanet, and Europe's leading pet store chain Fressnapf, which is the third biggest player in the Italian pet supplies market with Maxi Zoo Italia, agreed last June to create a new joint corporate group. Cinven was to receive a holding of between 60 and 65 per cent and Fressnapf would have between 30 and 35 per cent. At the end of November, the competition authority blocked the merger because the new company would have a market share of 60 to 65 per cent. This would have been a "significant obstacle to competition in retail outlets for pet products".
You can read the bulletin of the competition authority here.