CMA clears merger between two large manufacturers of whey protein concentrate

On 7 November 2024, the Competition and Markets Authority (CMA) approved Arla Foods Ingredients’ acquisition of Volac’s Whey Nutrition business.  

The CMA concluded that whilst the merging parties have a significant share of supply of ‘regular’ whey protein isolate (i.e. standard non-clear concentrate with a protein content of over 90%) and a moderate joint market position in relation to whey protein concentrate (i.e. with a protein content between 50% and 89%), other suppliers will continue to exert sufficient competitive constraint. It further found that the ‘clear’ whey protein isolate market falls under the ‘de minimis’ exception. 

RBB assisted with economic analyses related to the geographic market definition and the closeness of competition between the merging parties. 

RBB’s team led by Adrian MajumdarAdrian MajumdarManaging Partner and Ethel FonsecaEthel FonsecaPartner, and supported by Alina GruschkaAlina GruschkaSenior Associate, advised Norton Rose Fulbright during the pre-notification phase and Phase I investigation.