Jan 8 (Reuters) - Britain's competition regulator said on Thursday that it would fast-track its probe of Associated British Foods' deal to buy bread brand Hovis from private equity firm Endless to an
UK Regulator Probes AB Foods' Acquisition of Hovis
Jan 8 (Reuters) - Britain's competition regulator said on Thursday that it would fast-track its probe of Associated British Foods' deal to buy bread brand Hovis from private equity firm Endless to an in-depth investigation.
The move comes just weeks after the Competition and Markets Authority (CMA) said it would examine the deal, which would add another major UK bread brand to ABF's portfolio and strengthen its position amid falling demand for packaged sliced loaves.
Primark-owner ABF announced the deal to buy 135-year-old Hovis in August last year.
"Our priority is to achieve regulatory clearance as efficiently as possible and we are pleased to have agreed with the CMA that we will fast-track to the in-depth and detailed final phase of their merger review," an ABF spokesperson said.
"We will continue to work constructively with the CMA to demonstrate the benefits of the transaction."
Hovis did not immediately respond to Reuters' request for comment.
(Reporting by Shashwat Awasthi and Ankita Bora in Bengaluru; Editing by Rashmi Aich and Louise Heavens)
