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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation as amended and supplemented, the Competition Council makes available to the public the «summary of the transaction» below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed transaction.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
– The direct acquirer: «Bettcher Industries, Inc.»;
– The indirect acquirer: «KKR & Co. Inc.»;
– The target: «Lima SAS».
Nature of the transaction
– Acquisition of exclusive control.
Economic sectors concerned
– Poultry secondary processing machinery and equipment supply market.
Deadline for interested third parties to submit their observations
– 10 days from the date of publication of this press release, i.e., April 15, 2024.
NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the acquisition by the company «Bettcher Industries, Inc.» of the exclusive control of the company «Lima SAS», through the acquisition of 100% of the share capital and associated voting rights.
The company «Bettcher Industries, Inc.», headquartered in Birmingham, Ohio, United States, is part of the «Fortifi Food Processing Solutions» group (Fortifi Group), which is a global manufacturer and supplier of food processing equipment and automation solutions.
The «Fortifi» group manufactures and supplies cutting tools used in food processing operations, as well as related spare parts and consumables. The cutting tools manufactured by «Fortifi» are also used in industrial applications, including rubber and composite material production. «Fortifi» also provides post-harvest processing, protein processing, and packaging solutions.
«Fortifi» is indirectly majority-owned by investment funds, vehicles, and/or accounts advised and managed by «KKR», an international investment company that offers alternative asset management, capital markets, and insurance solutions.
The company «Lima SAS», headquartered in Quimper, France, is involved in the design, manufacture, distribution, marketing, and maintenance of bone/meat separation, deboning, and grinding-denervation machines.
Done in Rabat on April 4, 2024.
