December 28 (SeeNews) - Romania's competition authority said on Tuesday it has approved the takeover of fruit and vegetable canning group Fabka by local peer Annabella Fabrica de Conserve Raureni.
"Following a review of the transaction, the Competition Council has found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position," the anti-trust body said in a statement.
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Fabka Group was established in 1968 in Fetesti, Ialomita county. It produces canned fruits and vegetables under the HortiCons brand, according to its website.
Fabrica de Conserve Raureni was founded in 1925 and produces a wide range of canned vegetables and fruits, vinegar, syrups, concentrated fruit juices and nectars packaged in bottles and cans. In 1996 it was taken over by local petrochemical company Oltchim, which in 2008 sold it to Ramnicu Valcea-based Annabella group.
Annabella Group also operates a national retail chain with several store formats: Annabella A-Z hypermarket, Annabella Concept Store and Annabella Fresh, according to its website.
(1 euro=4.9491 lei)