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

• Jurisdiction: Ireland
• Parties: Clondal,Clondalkin
• Date: 27 February 2004
• Decision Date: 27 February 2004
• Decision Number: M/04/007
• Court: Competition and Consumer Protection Commission

Determination of the Competition Authority

Determination No. M/04/007 of the Competition Authority, dated 27th February

2004, under Section 21 of the Competition Act, 2002

Notification No. M/04/007 – Clondal Acquisition B.V. proposed acquisition of

Clondalkin Group Holdings Limited

Introduction

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

(“CGHL”).

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,

however.

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.

Analysis

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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