Merger of Hagar hf. and Reykjavíkur Apótek ehf.
The Icelandic Competition Authority (ICA) has examined the merger between Hagar hf. (Hagar) and Reykjavíkur Apótek ehf. (Reykjavíkur Apótek). The merger was notified 8th May 2019, with a long form notification on basis of Art. 17 a of the Icelandic Competition Act No. 44/2005.
Apótek Reykjavíkur operates mainly in the running of a pharmacy of the same name.
Hagar is a conglomerate, listed in Icelandic stock exchange. It is active in the running of grocery stores (Hagkaup and Bónus) through its subsidiary Hagar verslanir ehf. Hagar operates furthermore 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.
On 28th May 2019, the ICA announced to the merging parties that there were grounds for further examination of the transaction. Subsequent to the further examination, the ICA found that there were not sufficient grounds for intervention of the merger on the basis of Art. 17 of the Icelandic Competition Act.