(Finance) – The Competition and Market Guarantor Authority (AGCM) decided to do not start the investigation with regard to the operation it concerns the acquisition of a business unit of JBrand International by OVSa clothing company listed on Euronext Milan.
The acquisition object is a newly established company (Newco or Target) in which the business branch of JBrand International Srl active since 2021 and relating to the production activity, through foreign subcontractors, and sale to other companies, which then resell the products thus purchased, will be conferred by JBrand International Srl, of casual clothing items.
The Antitrust has established that the concentration under examination does not appear likely to significantly impede competition effective in the market concerned and to lead to the creation or strengthening of a dominant position.
More specifically, it is explained that in the market for the production and wholesale marketing of footwear and casual clothing items, both at a European and national level, the quote of Target is less than or equal to [inferiore all’1%] and the share of OVS is less than or equal to [5-10%]. In this market there are numerous and qualified competitors.
With reference to possible vertical effects, AGCM does not believe that the concentration operation could lead to effects of a preclusive nature due to the position held by the parties in the (upstream) markets for the production and wholesale marketing of footwear and casual clothing items. Furthermore, the Target company already carries out a large part of its activities with OVS.