Heineken’s Acquisition of Punch is Cleared
The Competition and Markets Authority (CMA) has accepted proposals by Heineken to resolve concerns over its £402.7 million acquisition of Punch Taverns, one of the UK’s largest leased pub companies, with a portfolio of more than 3,500 pubs nationwide. In June, the CMA said that Heineken’s proposed purchase of part of the Punch Taverns estate could reduce competition in 33 local areas across Great Britain. Before the merger was referred for a further in-depth investigation, the companies were given the opportunity to offer proposals to address these concerns.
Heineken has offered to sell pubs in each of the affected areas to preserve competition and ensure customers in these locations do not lose out.
Before reaching a final decision, the CMA carefully assessed and consulted publicly on these proposed undertakings. The CMA is satisfied that its concerns have been addressed and has therefore decided that the merger will not be referred for an in-depth phase 2 investigation.
Punch will be added to Heineken UK’s existing leased pub business – Star Pubs & Bars.
