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COMPETITION COUNCIL CLEARS ACQUISITION OF UAB KRUZAS NORDIC COSMETICS DISTRIBUTION BY BERNER LTD

12 03 2014

On March 12, the Competition Council (the KT) cleared acquisition of 100 per cent of UAB Kruzas Nordic Cosmetics Distribution (Kruzas NCD) shares by Berner Ltd.

Berner Ltd is a Finish company engaged in the sales of products of plant protection, garden care, hygiene and cleanliness, cosmetics and other. The company also produces cosmetics for the Finish market.

Kruzas NCD main activity is the wholesale of cosmetics and perfumery products in the Baltic States.

Parties to the merger agreed to assume non-competition obligations in the course of the merger.

Having evaluated all the circumstances related to the merger, the KT acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

Competition Council Spokesperson