Announcements — 21/02/2025

Geradin Partners assists Foresco in obtaining phase II merger clearance for acquisition of DWP/Vierhouten

By decision of 20 February 2025, the Dutch Authority for Consumers and Markets (ACM) has cleared the acquisition of DWP/Vierhouten by Belgian pallet manufacturer Foresco. This clearance decision follows an intensive and complex phase I and phase II investigation, in which the ACM investigated the transaction in the broader context of Foresco’s strategy of growth through a series of acquisitions. This case marks the first time that the ACM assesses a transaction as part of a buy-and-build strategy and in its decision it explains the framework that applies for cases involving such strategies. The ACM will not only consider the effects of the current transaction, but also the effects of all relevant previous acquisitions (including those that did not require notification), and it takes into account the effects of future acquisitions that are sufficiently likely to materialize.

The ACM reached the conclusion that Foresco would still face sufficient competitive pressure after its acquisition of DWP/Vierhouten, also citing the absence of negative effects resulting from past acquisitions and of clear indications that Foresco would continue to pursue its growth strategy in the Netherlands.

Geradin Partners assisted Foresco in the procedure before the ACM together with A&O Shearman. A link to the ACM’s press release can be found below.

https://www.acm.nl/en/publications/acm-clears-acquisition-pallet-sellers-dwp-and-vierhouten-competitor-foresco-and-investigates-strategy-serial-acquisitions

Contacts : 

Ruben Elkerbout : relkerbout@geradinpartners.com

Stijn Huijts: shuijts@geradinpartners.com

Mattijs Baneke: mbaneke@geradinpartners.com

Author

Ruben Elkerbout

Email