CVS / Quality Pet Care merger inquiry

The CMA is investigating the completed acquisition by CVS Group plc of Quality Pet Care Ltd (trading as The Vet).

From:
Competition and Markets Authority
Published
24 September 2021
Last updated
6 July 2022 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Distribution and service industries
Outcome:
Markets - phase 1 undertakings in lieu of reference
Opened:
23 September 2021
Closed:
1 July 2022
Date Action
27 June 2022 Undertakings in lieu of reference accepted
25 May 2022 to 13 June 2022 Consultation on proposed undertakings in lieu of reference
4 March 2022 CMA to consider undertakings offered
18 February 2022 Decision announced
21 December 2021 Launch of merger inquiry
24 September 2021 to 8 October 2021 Invitation to comment
22 September 2021 Initial enforcement order

Phase 1

Undertakings in lieu of reference accepted

27 June 2022: The CMA has accepted undertakings in lieu of reference for the completed acquisition by CVS Group plc of Quality Pet Care Ltd (trading as The Vet).

Undertakings in lieu of reference consultation: now closed

25 May 2022: We are consulting on proposed undertakings in lieu of reference for the completed acquisition by CVS Group plc of Quality Pet Care Ltd (trading as The Vet).

Extension of consideration of undertakings in lieu

21 April 2022: The CMA has extended the consideration of undertakings in lieu of reference until 1 July 2022.

CMA to consider undertakings offered

4 March 2022: CVS offered undertakings to the CMA which involve divesting the entire The Vet business. The CMA considers that there are reasonable grounds for believing that the undertakings offered by CVS, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.

Reference unless undertakings accepted

18 February 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Launch of merger inquiry

21 December 2021: The CMA announced the launch of its merger inquiry by notice to the parties.

Directions to appoint a monitoring trustee

13 October 2021: On 7 October 2021, pursuant to an initial enforcement order dated 22 September 2021, the CMA directed CVS Group plc and Quality Pet Care Ltd (trading as The Vet) to appoint a monitoring trustee.

Directions to appoint a hold separate manager

13 October 2021: On 6 October 2021, pursuant to an initial enforcement order dated 22 September 2021, the CMA directed CVS Group plc and Quality Pet Care Ltd (trading as The Vet) to appoint a hold separate manager.

Invitation to comment: now closed

24 September 2021: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Initial enforcement order

22 September 2021: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 in relation to the completed acquisition by CVS Group plc of Quality Pet Care Ltd (trading as The Vet).

Amendments/consents granted

Contact

Please send written representations about any competition or public interest to Philippa Allan, Principal Case Officer: [email protected]

Rosie Richardson, Case Offcer: [email protected]

Updates to this page

Published 24 September 2021
Last updated 6 July 2022 + show all updates

  1. Full text decision published.

  2. Final undertakings published.

  3. Derogations published.

  4. Derogations published.

  5. Proposed undertakings in lieu of reference and notice of consultation published.

  6. The CMA has extended the consideration of undertakings in lieu of reference until 1 July 2022.

  7. Derogation letter published.

  8. Derogation published.

  9. Announcement that the CMA will consider undertakings offered published.

  10. Summary of the decision to refer unless undertakings are offered published.

  11. Derogation published.

  12. derogation published.

  13. Derogations published.

  14. Launch of merger inquiry published.

  15. Derogations published.

  16. Derogation published.

  17. Directions to appoint and derogation published.

  18. First published.

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