Kingsmill owner cleared to create UK’s biggest bread brand with Hovis takeover

ABF’s bakeries arm would be likely to exit the market entirely if the deal did not proceed, CMA findsBusiness live – latest updatesThe owner of Kingsmill’s £75m deal to buy Hovis to create the UK’s biggest bread brand has been cleared by the competition watchdog.The Competition and Markets Authority (CMA) ruled that Associated British Foods’ proposed takeover of Hovis did not raise competition concerns because if the deal did not go ahead “the most likely outcome” would be ABF’s bakeries arm leaving the UK market entirely. Continue reading...