The Commerce Commission has received a clearance application from Taranaki By-Products Limited for it, or a related company, to increase shareholdings in three joint ventures with Lowe Corporation.
It is proposed that:
- Taranaki By-Products will acquire up to 100% of the shares in Hawkes Bay Protein Limited and up to 100% of shares in Jackson Transport Limited; and
- Glenninburg Holdings, a company that is majority owned by Taranaki By-Products, will acquire up to 100% of the shares in Tuakau Proteins Limited.
Taranaki By-Products, Hawkes Bay Protein and Tuakau Proteins all own operations in the North Island that render animal materials into finished products such as meat and bone meal and tallow. Jackson Transport is a Taranaki-based transport company that provides services to the rendering industry.
A public version of the clearance application is available on the Commission's case register.
Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
