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Pat The Baker Takeover Of Irish Pride Gains Competition Approval

Pat The Baker's proposed takeover of fellow bread brand Irish Pride has been cleared by the Competition and Consumer Protection Commission.

In a statement, the Commission said that it has 'formed the view that the proposed transaction will not substantially lessen competition in any market for goods or services in the State'.

The proposed deal was notified to the Commission in August.

Irish Pride fell into receivership in June, ahead of Pat The Baker making a play for the baker at the start of August.

In October, a report by Tom O’Brien of Mazars, prepared in the event of a possible examinership for the Irish Pride, suggested that a rescue plan could have been implemented in order to maintain the business as a going concern.

© 2015 - Checkout Magazine by Stephen Wynne-Jones

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