Vandemoortele与Délifrance合并审查
SOURCE / GOV.UK-CMA Updates · Vandemoortele / Délifrance merger inquiry
原文
Vandemoortele / Délifrance merger inquiry
完整原文
<h2 id="phase-2">Phase 2</h2> <h3 id="administrative-timetable">Administrative timetable</h3> <table> <thead> <tr> <th scope="col">Date</th> <th scope="col">Action</th> </tr> </thead> <tbody> <tr> <td>6 October 2026</td> <td>Statutory deadline</td> </tr> <tr> <td>22 April 2026</td> <td>Referral date</td> </tr> </tbody> </table> <ul> <li> <span id="attachment_40f04b1f-80a7-4e40-a0a2-4f4fd15cec37" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a1d8148c7335e2ca6daadc7/_Admin_timetable_.pdf">Administrative timetable (PDF, 123KB)</a></span> (2.6.26)</li> </ul> <h3 id="contact">Contact</h3> <p><a href="mailto:vandemoortele.delifrance@cma.gov.uk">vandemoortele.delifrance@cma.gov.uk</a></p> <h3 id="invitation-to-comment-on-remedies">Invitation to comment on remedies</h3> <p>18 June 2026: The invitation to comments on remedies sets out and consults on the actions which the CMA might take for the purpose of remedying the substantial lessening of competition and/or any resulting adverse effects provisionally identified in the interim report.</p> <p>The deadline for submitting comments on possible remedies is 5pm on Thursday 25 June 2026.</p> <ul> <li> <span id="attachment_c06b0e92-0b8e-4453-921d-c9c29169efe4" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a33c0480bea238415c9a1fe/Invitation_to_comment_on_remedies_18_June_2026.pdf">Invitation to comment on remedies (PDF, 201KB)</a></span> (18.6.26)</li> </ul> <h3 id="interim-report">Interim report</h3> <p>18 June 2026: The CMA has provisionally found competition concerns as part of its in-depth investigation of the completed acquisition by Vandemoortele Group of Délifrance S.A.</p> <p>The deadline for submitting responses to the interim report is 5pm on Thursday 9 July 2026.</p> <ul> <li> <span id="attachment_2b4641f4-f7ae-44bd-838d-ab2278192093" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a33c061c6e94f095f3efa0a/Notice_of_interim_report_18_June_2026.pdf">Notice of interim report (PDF, 140KB)</a></span> (18.6.26)</li> <li> <span id="attachment_f95376de-80c1-4494-ba40-3bdd6c64767e" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a33c4c0e590e5e061c9a217/Interim_report_and_appendices_18_June_2026.pdf">Interim report and appendices (PDF, 696KB)</a></span> (18.6.26)</li> <li> <span id="attachment_f2ef4b5e-7ab6-4370-b834-e8c60a5a43be" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a33c0e36422bec01b117761/Summary_of_interim_report_18_June_2026.pdf">Summary of interim report (PDF, 122KB)</a></span> (18.6.26)</li> </ul> <h3 id="slc-concession">SLC concession</h3> <p>15 May 2026: Vandemoortele Group has notified the CMA that it accepts that its completed acquisition of Délifrance S.A. may be expected to result in a substantial lessening of competition as a result of horizontal unilateral effects in the supply of frozen Laminated Dough products to retail and foodservice customers in the UK as identified in the CMA’s phase 1 investigation (the SLC Concession). The inquiry group has accepted Vandemoortele Group’s SLC Concession and will proceed with its investigation accordingly (review paragraphs 7.27 to 7.30 of Mergers: Guidance on the CMA’s jurisdiction and procedure <a href="https://www.gov.uk/government/publications/mergers-guidance-on-the-cmas-jurisdiction-and-procedure">CMA2: January 2025 version</a> for further information).</p> <h3 id="inquiry-group-appointed">Inquiry group appointed</h3> <p>23 April 2026: The CMA appointed the inquiry group:</p> <ul> <li><a href="https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/inquiry-chairs-biographies#martin-coleman-panel-chair">Martin Coleman (Chair)</a></li> <li><a href="https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#ashleye-gunn">Ashleye Gunn</a></li> <li><a href="https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#sir-kenneth-parker">Sir Kenneth Parker</a></li> </ul> <h3 id="terms-of-reference">Terms of reference</h3> <p>22 April 2026: The CMA has referred the completed acquisition by Vandemoortele Group of Délifrance S.A. for an in-depth investigation.</p> <ul> <li> <span id="attachment_2c130c13-d147-45a3-98ae-a42c15695181" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69e8828cd36883a64473b7f2/Terms_of_reference.pdf">Terms of reference (PDF, 100KB)</a></span> (22.4.26)</li> </ul> <h2 id="phase-1">Phase 1</h2> <h3 id="statutory-timetable">Statutory timetable</h3> <table> <thead> <tr> <th scope="col">Date</th> <th scope="col">Action</th> </tr> </thead> <tbody> <tr> <td>19 March 2026</td> <td>Consultation on proposed undertakings in lieu of reference</td> </tr> <tr> <td>18 February 2026</td> <td>Extension of consideration of undertakings</td> </tr> <tr> <td>24 December 2025</td> <td>Initial enforcement order</td> </tr> <tr> <td>22 December 2025</td> <td>CMA to consider undertakings offered</td> </tr> <tr> <td>8 December 2025</td> <td>Decision announced</td> </tr> <tr> <td>10 October 2025</td> <td>Launch of merger inquiry</td> </tr> <tr> <td>3 October 2025 to 17 October 2025</td> <td>Invitation to comment</td> </tr> </tbody> </table> <h3 id="reference-decision">Reference decision</h3> <p>22 April 2026: The CMA has referred the completed acquisition by Vandemoortele Group of Délifrance S.A. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.</p> <p>The CMA also gives notice that it has decided not to accept the proposed undertakings in lieu of a reference.</p> <ul> <li> <span id="attachment_3804f517-b3b5-410a-a794-715f0e16ac14" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69e8988908ecdb5c6f34adc0/Decision_to_refer_and_not_accept_UILs.pdf">Decision to refer and not accept UILs (PDF, 122KB) </a></span> (22.4.26)</li> <li>Press release: <a href="https://www.gov.uk/government/news/review-of-vandemoortele-delifrance-deal-moves-to-in-depth-investigation">Review of Vandemoortele / Délifrance deal moves to in-depth investigation</a> (22.4.26)</li> </ul> <h3 id="consultation-undertakings-in-lieu-of-reference">Consultation: undertakings in lieu of reference</h3> <p>19 March 2026: The CMA is consulting on proposed undertakings in lieu of a reference to a Phase 2 investigation for the completed acquisition by Vandemoortele Group of Délifrance S.A.</p> <ul> <li> <p><span id="attachment_9ae269a1-f8f2-4797-ab2b-d6221d25f8da" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69bbdaec106c68d7289b646a/Notice_of_consultation_2.pdf">Notice of consultation on undertakings in lieu (PDF, 170KB)</a></span> (19.3.26)</p> </li> <li> <p><span id="attachment_618e4922-4993-4058-83c8-fbdba6debe93" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69bbedae4c478213a823ce3b/Proposed_undertakings_x.pdf">Proposed undertakings (PDF, 409KB)</a></span> (19.3.26)</p> </li> </ul> <h3 id="extension-of-consideration-of-undertakings-in-lieu">Extension of consideration of undertakings in lieu</h3> <p>18 February 2026: The CMA has extended the consideration of undertakings in lieu of reference until 22 April 2026.</p> <ul> <li> <span id="attachment_ed937649-8783-4db4-84a6-fbb6862c2009" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6995819e0b6fa0acfdaaf135/notice_of_extension.pdf">Notice of extension (PDF, 99KB)</a></span> (18.2.26)</li> </ul> <h3 id="cma-to-consider-undertakings-offered">CMA to consider undertakings offered</h3> <p>22 December 2025: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Vandemoortele Group and Délifrance S.A. or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.</p> <ul> <li> <span id="attachment_ccb7ed8b-701b-4194-a7c2-52aebb55456d" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6954e418e8f9a8d94d8d18c7/decision_that_undertakings_might_be_accepted.pdf">Decision that undertakings might be accepted (PDF, 191KB)</a></span> (31.12.25)</li> <li>Press release: <a href="https://www.gov.uk/government/news/cma-proposes-to-accept-remedies-in-pastry-deal">CMA proposes to accept remedies in pastry deal</a> (22.12.25)</li> </ul> <h3 id="reference-unless-undertakings-accepted">Reference unless undertakings accepted</h3> <p>8 December 2025: The CMA has decided, on the evidence currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for an in-depth, phase 2 investigation unless the parties offer an acceptable undertaking to address these competition concerns.</p> <ul> <li> <span id="attachment_9c08bdc6-ad97-44a1-a364-8693bfb9dbbc" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/694952333022cdf03a0eb888/Full_text_decision_2_-_22_December_2025.pdf">Full text decision (PDF, 513KB)</a></span> (22.12.25)</li> <li> <span id="attachment_7158f4fb-baa1-4a2d-b7b0-8eb52db53bfe" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6936ba11a6fc97b81e57435a/summary_of_phase_1_decision.pdf">Summary of phase 1 decision (PDF, 114KB)</a></span> (8.12.25)</li> </ul> <h3 id="launch-of-merger-inquiry">Launch of merger inquiry</h3> <p>10 October 2025: The CMA announced the launch of its merger inquiry by notice to the parties.</p> <ul> <li> <span id="attachment_f7354102-d31f-41c3-bc16-3d6776c395e4" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/68e89397b6ae95e3c76907f3/Commencement_notice.pdf">Commencement notice (PDF, 91KB)</a></span> (10.10.25)</li> </ul> <h3 id="invitation-to-comment-closed">Invitation to comment: closed</h3> <p>The CMA issued this ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK. The CMA had not yet launched its formal investigation into this transaction. This invitation to comment was the first part of the CMA’s information-gathering process.</p> <p>To assist it with this assessment, the CMA invited comments on the transaction from any interested party.</p> <h3 id="initial-enforcement-order">Initial enforcement order</h3> <p>24 December 2025: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Safinco NV, Vandemoortele NV, Vamix NV, and Délifrance S.A.</p> <ul> <li> <span id="attachment_fca61870-038e-4687-9107-c694e6bdda6d" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6954e434a2fb6c15f98d18c9/initial_enforcement_order.pdf">Initial enforcement order (PDF, 200KB)</a></span> (31.12.25)</li> </ul> <h3 id="amendments--consents-granted">Amendments / consents granted</h3> <ul> <li> <p><span id="attachment_38754635-7164-4ed5-a0b2-c67cdd3f5095" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69b1348758d4ef5adaf0e421/Derogation_30_December_2025.pdf">Derogation 30 December 2025 (PDF, 265KB)</a></span> (11.3.26)</p> </li> <li> <p><span id="attachment_f339f5cd-1b14-4826-b20a-9f23ca074951" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69b134a358d4ef5adaf0e422/Derogation_19_January_2026.pdf">Derogation 19 January 2026 (PDF, 213KB) </a></span> (11.3.26)</p> </li> <li> <p><span id="attachment_dfcae377-4bba-4abe-90f0-aee69e143c53" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69b134c2187a6dea78233154/Derogation_5_February_2026.pdf">Derogation 5 February 2026 (PDF, 157KB) </a></span> (11.3.26)</p> </li> <li> <p><span id="attachment_3e720ed9-10dd-46b8-9a14-fb4c50d5520d" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69b134f558d4ef5adaf0e426/Derogation_6_February_2026_2.pdf">Derogation 6 February 2026 (PDF, 143KB) </a></span> (11.3.26)</p> </li> <li> <p><span id="attachment_78085873-c937-4e72-8b6e-e093b17779ed" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69e87e9320a498c16734ada8/Derogation_6_February_2026.pdf">Derogation 6 February 2026 (PDF, 297KB) </a></span> (22.4.26)</p> </li> <li> <p><span id="attachment_0806eb21-c7d0-4d90-b8d4-ffa4f279c220" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/69e87eb09ca985145673b7ec/Derogation_23_March_2026.pdf">Derogation 23 March 2026 (PDF, 373KB)</a></span> (22.4.26)</p> </li> <li> <p><span id="attachment_4dcb83e8-7bdf-424b-b601-e64e9dcd3eff" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a1d817bb95db968c8f3bced/_Derogation_14_May_2026_.pdf">Derogation 14 May 2026 (PDF, 201KB)</a></span> (2.6.26)</p> </li> <li> <p><span id="attachment_193e9260-2434-4c7a-9945-b7fd66dd1028" class="attachment-inline"><a href="https://assets.publishing.service.gov.uk/media/6a1d819a916cd732dcdaad9a/_Derogation_21_May_2026_.pdf">Derogation 21 May 2026 (PDF, 213KB)</a></span> (2.6.26)</p> </li> </ul> <h4 id="privacy-notice">Privacy notice</h4> <p>Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our <a href="https://www.gov.uk/government/organisations/competition-and-markets-authority/about/personal-information-charter">Privacy Notice</a>.</p>
归纳
欧盟委员会对Vandemoortele与Délifrance的拟议合并展开调查，评估该交易是否可能违反欧盟竞争法规。审查涉及冷冻烘焙产品市场，初步阶段将分析合并对市场竞争格局的影响。
点评
合并可能强化冷冻烘焙市场的集中度，引发欧盟竞争法下的支配地位滥用风险。
法律视角点评
AI 生成 · 人工审核核心关切
合并可能强化冷冻烘焙市场的集中度，引发欧盟竞争法下的支配地位滥用风险。
实务启示
中国反垄断申报需精准界定相关产品市场和地理市场，并量化合并对竞争参数的影响。