Frucor to take over Simply Squeezed

The Commerce Commission has cleared Frucor Beverages to acquire juice maker Simply Squeezed.

Commission chairman Mark Berry said the commission was satisfied that the acquisition would not substantially lessen competition in the national market for the manufacture, import and supply of fruit beverages.

Frucor is a subsidiary of Japan's Suntory Holdings Ltd and is the second largest supplier of non-alcoholic beverages in New Zealand behind Coca-Cola Amatil (NZ) Ltd.

Frucor owns and manufactures Just Juice, Fresh Up, Arano, Joo-C, Citrus Tree, McCoy and Twist fruit beverage brands.

Simply Squeezed is a Hawke's Bay based manufacturer of fruit beverages.

The combined entity was unlikely to be able to exercise market power because of the number of participants in the market and the presence of supermarkets, which had demonstrated a willingness to foster entry or expansion in the market.

- NZPA