Friday 24th June 2011
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The Commerce Commission has cleared New Zealand Comfort Group to acquire all of the business assets of Dunlop Living.
The clearance is subject to the merged entity selling the foam underlay manufacturing business currently owned by Dunlop Living.
New Zealand Comfort Group manufactures and supplies beds and carpet underlay, while Dunlop Living manufactures and supplies beds, carpet underlay and furniture.
Both companies also manufacture foam. Comfort group mostly uses its foam in its Sleepyhead-branded beds, while Dunlop Living's foam is used in its beds and furniture manufacturing business and is supplied to competing bed and furniture manufacturers.
Commission deputy chairwoman Sue Begg said it was satisfied the proposed acquisition would not have the effect, or likely effect, of substantially lessening competition in the national markets for the manufacture and supply of box bedding, polyurethane foam and foam underlay.
While the merger would give rise to a significant increase in market share for polyurethane foam underlay, the commission considered the sale of Dunlop Living's foam underlay business to an independent party would be sufficient to remedy the loss of competition in that market.
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