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

Decision NumberM/04/029
PartiesAntler,Barclays
StatusPreliminary investigation (Phase 1)
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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