Responding the Competition and Market Authority's announcement today that it has commenced a Phase One investigation into the acquisition of Hovis Group Ltd by Allied Bakeries, a spokesperson for Associated British Foods said:
"This formal step is an important milestone and follows ABF working constructively with the CMA to outline the challenges and changes taking place in the UK's bakery sector. ABF will continue to work closely with the CMA to ensure this case is run as efficiently as possible and to demonstrate why this transaction will help to create a more sustainable competitor that is better able to invest, innovate and deliver for customers."
ENDS
For further information, please contact:
Associated British Foods:+44 20 7399 6545
Joe Carberry, Corporate Affairs Director
FGS:James Murgatroyd +44 7768 254 911
Sarah Roberts +44 7827 808 421