Tribunal approves Premier's buyout of Mister Sweet, with conditions
The Competition Tribunal has approved the acquisition by consumer goods manufacturer Premier of confectionery manufacturer Mister Sweet with the condition that it fill vacated nonexecutive roles with the 19 employees facing retrenchment.
The merger parties had previously agreed to a moratorium on the retrenchment of 19 nonexecutive employees for a period of 24 months after the merger implementation date.
In terms of the conditions, the total number of potential retrenchments is limited to six employees.
The Tribunal approved the merger on the condition that, should vacancies become available owing to resignation or natural attrition during the 24-month moratorium period, Premier will endeavour to fill the vacancies from the 19 nonexecutive employees who would otherwise be retrenched after the 24-month moratorium.
The Competition Commission recommended the approval of the transaction on the basis that it is unlikely to substantially prevent or lessen competition in the national market for the manufacture and supply of sugar-based confectionery products.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation