The Hellenic Competition Commission (HCC) in Section, by its Decision 836/2023, unanimously approved the notified concentration, which concerns the acquisition of sole control by the company “SwitzGroup Europe Limited” (SwitzGroup), over the company “IONIKI SFOLIATA S.A. FROZEN FOOD PRODUCTION DOUGH AND PUFF PASTRY” (IONIKI), within the meaning of article 5(2)(b) of Law 3959/2011.

SwitzGroup’s companies are active in the following industries: egg production and processing, marketing and production of bakery and confectionery ingredients, production and distribution of frozen packaged bakery and pastry products based on dough, as well as and in the development of retail chains. IONIKI is an S.A. company active in the production and marketing of frozen puff pastry, dough and bakery products.

According to the Decision, 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.