Brussels, 31st October 2007
The French Dailycer Group is controlled currently by One Equity Partners II ("OEP"), a private equity fund, ultimately controlled by J.P. Morgan Chase & Co, a global financial services firm. The German De-Vau-Ge Gesundkostwerk ("DVG") is controlled currently by MSP Stiftung, a foundation under German law, holding certain assets for the benefit of the members of the Seventh-Day Adventists Church.
Both Dailycer Group and DVG produce ready-to-eat cereals and cereal bars that are mainly sold under retailers' own labels.
The Commission’s examination of the market showed that the two cereal producers have a different geographic focus. Whereas Dailycer sells mainly in France, Spain and the UK, DVG is focusing to the German market. Even in the countries where both companies are selling, namely Belgium, Italy and Spain, they cannot be considered as close competitors.
The Commission also established that the merged entity would continue to face
a number of effective competitors supplying private label cereals. Therefore the
proposed transaction would not lead to competition concerns.
Further details on the case will be available at: