The Hellenic Competition Commission (HCC) in Section, on December 1, 2023, by its Decision 831/2023, unanimously approved the notified concentration, which concerns the acquisition of sole control by the Alternative Investment Fund "DIORAMA INVESTMENTS II RAIF, S.C.A." (DIORAMMA II), managed by the company 'DECA INVESTMENTS Alternative Investment Fund Manager Société Anonyme (DECA), over the company 'LEADER INDUSTRIAL AND COMMERCIAL FOOD S.A (LEADER), within the meaning of article 5(2)(b) of Law 3959/2011.

DECA is a management company of Alternative Investment Funds (AIFs) and manages the AIFs "Diorama Investments SICAR" ("Diorama") and DIORAMA II. Diorama controls companies active in the agro-processing sector, paper packaging, food products including cheese and butter/margarine and brewing sector. LEADER is a limited liability company active in the storage, standardisation, distribution and marketing of dairy and cheese products as well as butter/margarine and brine products.

The HCC decided that the competition conditions will not change as a result of the transaction under consideration, neither horizontally nor vertically. The concentration under consideration is not expected to change the structure of the relevant markets and therefore will not affect the level of competition or limit competition in these markets.

In view of the above, the HCC in Section unanimously approved, under article 8(3) of Law 3959/2011, the notified concentration since, although falling within the scope of article 6(1) of Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the markets concerned.