Decision Nº M/04/029 from Competition and Consumer Protection Commission, 2004-06-04

• Jurisdiction: Ireland
• Parties: Antler,Barclays
• Date: 04 June 2004
• Decision Date: 04 June 2004
• Status: Preliminary investigation (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Number: M/04/029

Determination of the Competition Authority

Determination No. M/04/029 of the Competition Authority, dated

4th June 2004, under Section 21 of the Competition Act, 2002

Notification No. M/04/029 – The proposed acquisition by Barclays

plc of Antler Limited.

Introduction

1. On 6th June 2004 the Competition Authority, in accordance with

Section 18 (1) of the Competition Act, 2002 (“the Act”) was notified,

on a mandatory basis, of a proposal whereby Barclays plc

(“Barclays”), through its wholly-owned subsidiary Barclays Private

Equity Limited (“BPE”) would acquire 100% of the share capital of the

Antler Group Limited (“Antler”).

The Parties

2. Barclays, one of the largest financial groups in the UK, operates in the

banking, investment banking, and investment management sectors. It

also provides services to global corporation and financial institutions.

Barclays operates in more than 60 countries and has over 73,600

employees.

BPE is a leading European mid-market private equity investment

company, currently having investments in over 300 businesses.

3. Antler is registered in the UK, and is almost exclusively engaged in the

design, development and distribution of luggage. It generates nearly

all its turnover in the UK, with roughly £140,000 worth of turnover

accruing in the State.

Analysis

4. Barclays is not active in the manufacture and sale of luggage, which is

the only area Antler is engaged in. Accordingly, the transaction will

give rise to no overlap, and presents no competition issues.

Determination

The Competition Authority, in accordance with Section 21(2) of the

Competition Act, 2002, has determined that, in its opinion, the result of

the proposed acquisition will not be to substantially lessen competition in

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