Bel Group to Acquire Palma Lamental Foods
In a post on its site, AdC president Nuno Cunha Rodrigues declares that the board has chosen not to block the union, stating it's unlikely to pose significant obstacles to robust competition in the Portuguese market or a significant portion thereof.
On the 22nd of May, the Bel group announced a merger of corporations to the AdC. This move included the acquisition by Grupo Bel, S.A. through Vales e Cordilheiras, Unipessoal, Lda, of full control over the assets that make up the Central Cash business.**
The AdC noted that the Bel Group, headed by Marco Galinha, extends its influence into sectors such as logistics, research, development, technology, automation, the aeronautical and aerospace industry, the metalworking industry, communication and media, sustainable energy and mobility solutions, and real estate.**
In contrast, Central Cash is a collection of assets owned by Palmelalimentar - Armazenistas de Produtos Alimentares, S.A., which are employed to develop its distribution and wholesale ('cash and carry') business of food, hygiene, and cleaning products in Portugal.** Though the transaction adds these assets to Grupo Bel's portfolio, the regulatory body determined that the merger would not significantly impact market competition in Portugal, ensuring consumer choice and market dynamics stay largely unchanged by this action. [Sources for added context: 1, 2, 3]
- The AdC, recognizing the Bel Group's expansion into various sectors like real estate, announced that the merger with Central Cash would not pose significant barriers to competition within the Portuguese market, especially in industries like finance and business.
- Despite the Bel Group's acquisition of Central Cash's assets, reinforcing its presence in the Portuguese market, the union is expected to have minimal effect on market competition in areas such as real estate and finance.
- The news of the Central Cash merger with Grupo Bel, S.A. has generated little concern within the Portuguese real estate industry, as the AdC has determined it will not hinder significant competition or consumer choices within the country's market.
