Decision Nº M/04/007 from Competition and Consumer Protection Commission, 2004-02-27

CourtCompetition and Consumer Protection Commission (Ireland)
Date27 February 2004
StatusPreliminary investigation (Phase 1)
Decision Date27 February 2004
Decision NumberM/04/007
Determination of the Competition Authority
Determination No. M/04/007 of the Competition Authority, dated 27th February
Notification No. M/04/007 – Clondal Acquisition B.V. proposed acquisition of
Clondalkin Group Holdings Limited
1. On 2nd February 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 Warburg, Pincus Private Equity VIII L.P. and Warburg,
Pincus International Partners L.P. (together, “Warburg Pincus”), via Clondal
Acquisition B.V. (“CA B.V.”) and Clondal Group Holdings B.V. (“CGH B.V”),
would acquire all the outstanding capital of Clondalkin Group Holdings Limited
The Parties
2. Warburg Pincus, a private equity investment firm, is globally active with a
diversified portfolio of investments, and expertise in a range of sectors. On the
island of Ireland, Warburg Pincus controls a portfolio of companies that are
active in manufacturing stair lifts, manufacturing mobility aids, IT-providing
financial data services, pharmaceuticals research and development, and software
and business outsourcing. It accrued revenue of about € [] million from these
activities in Ireland. None of these business operations has offices in Ireland,
3. CA B.V. is controlled by Warburg Pincus. It was incorporated in the Netherlands,
as a holding company, for the purpose of making this acquisition. As a result it
does not have any business activity.
4. CGHL is an Irish group that manufactures flexible and specialist packaging
products for sale in several countries around the world. Its main flexible packing
products include plastic flower sleeves, agricultural packaging products,
industrial films, frozen food wrappings, metalised foil/cigarette box inner-liners
and lids for the dairy industry. Its specialist packaging products consist of
manufacturing cartons, labels and paper packaging for industries, including but
not limited to, cosmetics, confectionery, computers, electronics, healthcare and
pharmaceuticals. It has manufacturing activities across Western Europe and the
United States.
5. None of the entities controlled by Warburg Pincus is active in the manufacture or
supply of packaging products.
6. As there is no competitive overlap between the business activities of the parties,
the transaction will not have a significant impact on competition within the State.

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