Commission approves Clicks and Sorbet deal
The Competition Commission of SA (CCSA) has recommended the Competition Tribunal to approve Clicks Investments’ acquisition of Sorbet Holdings from Old Mutual Private Equity.
The CCSA recently addressed public and corporate applicants in terms of the Competition Act, including the Clicks and Sorbet deal.
In November, the Clicks Group said that it had acquired the beauty company for a cash consideration of R105m.
BusinessTech reports that the CCSA said that the proposed transaction will probably not lessen the competition in SA – adding that it does not raise any other public interest concerns.
It said that the Clicks Group – which controls Clicks Investments – will be responsible for designing and developing the Sorbet-branded beauty products and contracts while a third party makes the products.
The Sorbet-branded products beauty products will be sold at the Clicks Group’s stores and website.
However, the takeover will only include a select group of stores, including Sorbet Experience, Sorbet Man, Sorbet Man Woodlands and Candi and Co-Professional Salons.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
