The Competition Tribunal (“Tribunal”) has conditionally approved the proposed large merger whereby Pick n Pay Stores Ltd (“Pick n Pay”) intends to acquire the various assets and business belonging to the Tomis group of companies (“Tomis”).
The Tribunal has imposed a moratorium on merger-related retrenchments as well as other conditions relating to capital investments in respect of plant and equipment, and increasing procurement spend with HDP wholesale meat suppliers.
Pick n Pay is a national retail grocery chain which sells food, groceries, clothing, health and beauty products, general merchandise and value-added services. It is also a national liquor retail chain.
Tomis is a vertically integrated meat supplier based near Wellington in the Western Cape. It (i) operates an abattoir; (ii) processes, packages and supplies lamb and beef to customers; and (iii) manufactures garden compost from the abattoir and feedlot processes.