Hunter Douglas N.V. / 247 Home Furnishings Ltd merger inquiry

The CMA is investigating the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019.

From:
Competition and Markets Authority
Published
21 November 2019
Last updated
3 August 2021 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Household goods, furniture and furnishings
Outcome:
Mergers - phase 2 clearance with remedies
Opened:
21 November 2019
Closed:
3 August 2021

Phase 2

Administrative timetable

Date of referral: 1 April 2020

Statutory deadline: 15 September 2020

Case closure summary

3 August 2021: The purchase of the Divestment Package by Cristobal Consulting Ltd was approved by the CMA and completed on 7 July 2021. This brings the merger investigation to a close.

Remedy Group appointed

9 December 2020: The CMA appointed the following panel group members to the Remedy Group:

Kirstin Baker (Chair), Anne Fletcher, Robin Foster and Mark Thatcher

Final Undertakings

7 December 2020: The CMA has accepted final undertakings and the reference has now been fully determined.

Notice of proposal to accept final undertakings

5 November 2020: The CMA gives notice of the proposal to accept final undertakings and is inviting comments on the proposed draft undertakings by 5pm on 19 November 2020.

Final report

Responses to provisional findings and possible remedies

Provisional findings

16 July 2020: The CMA has provisionally found the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 gives rise to competition concerns.

Initial submissions

Issues Statement

30 April 2020: The issues statement sets out the scope of the investigation. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.

Directions to appoint a monitoring trustee

27 April 2020: The CMA directed Hunter Douglas N.V., pursuant to the Initial Enforcement Order dated 20 November 2019, to appoint a monitoring trustee.

Inquiry group appointed

8 April 2020: The CMA has appointed the inquiry group:

Kirstin Baker (Chair), Anne Fletcher, Robin Foster and Mark Thatcher

Terms of reference

1 April 2020: The CMA has referred the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 for an in-depth investigation.

Phase 1

Phase 1 Date Action
20 March 2020 Decision announced
28 January to 7 February 2020 Invitation to comment
27 January 2020 Launch of merger inquiry
20 November 2019 Initial enforcement order

Reference decision

1 April 2020: The CMA has referred the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 for an in-depth investigation.

Reference unless undertakings accepted

20 March 2020: The CMA has decided, on the information currently available to it, that it is or may be the case that these transactions have resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. These transactions will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Launch of merger inquiry

27 January 2020: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: now closed

28 January 2020: The 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

On 20 November 2019, The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 in relation to the completed acquisition by Hunter Douglas N.V. of 247 Home Furnishings Ltd.

Amendments/consents granted:

Contact

Please send written representations about any competition or public interest to:

Joseph Cruden

[email protected]

Updates to this page

Published 21 November 2019
Last updated 3 August 2021 + show all updates

  1. Case closure summary published.

  2. Remedy group appointed.

  3. Final undertakings and notice to accept final undertakings published.

  4. The CMA gives notice of the proposal to accept final undertakings and is inviting comments on the proposed draft undertakings by 5pm on 19 2020. Draft final undertakings published.

  5. Derogation published.

  6. Final report, appendices and glossary published.

  7. Summary of final report published.

  8. Parties’ response to the provisional findings and possible remedies published.

  9. Parties’ response to provisional findings published.

  10. Parties’ response to the notice of possible remedies published.

  11. Provisional findings report published.

  12. The CMA has provisionally found the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 gives rise to competition concerns. Summary of provisional findings, notice of provisional findings and remedies notice published.

  13. Parties’ main submission and a new derogation published.

  14. Directions to appoint a monitoring trustee and derogation published.

  15. Issues statement setting out the scope of the phase 2 investigation published.

  16. Full text decision and Phase 2 administrative timetable published.

  17. Inquiry group appointed.

  18. Full text of decision to refer published.

  19. Reference decision announced and terms of reference published.

  20. Launch of merger inquiry and invitation to comment announced.

  21. Derogation published.

  22. First published.

Contents