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Merger of Hagar hf. and Eldum rétt ehf.

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  • Case number: 23/2022
  • Date: 18/10/2022
  • Company:
    • Hagar hf.
    • Eldum rétt ehf.
  • Sectors:
    • Consumer goods, supplies and etc.
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority (ICA) has completed its investigation into the merger of Hagar hf. (Hagar) and Eldum rétt ehf. (Eldum rétt). Hagar is a conglomerate, listed in Icelandic stock exchange. It is active in running of grocery stores (Hagkaup and Bónus) through its subsidiary Hagar verslanir ehf. Furthermore, Hagar operates in the storage- and distribution sector through its subsidiary Aðföng. Another of Hagar’s subsidiary, Olís, operates in the petrol and petrol station market, as well as in the health and medical product market, through its own subsidiary, Rekstrarland. Eldum rétt has a strong position in the sales of meal kits. Considering their positions, ICA thought it necessary to investigate the merger thoroughly and a Statement of Objections was sent to the parties. After thorough examination, ICA found that there were not sufficient grounds for intervention of the merger on the basis of Article 17 of the Icelandic Competition Act.