LAWFUEL – The Legal Newswire + Law Jobs Network – The Commerce Commission has received an application from Cavalier Corporation Limited and Norman Ellison Holdings Limited seeking clearance for a proposal under which a new joint venture company (owned by the parties) will acquire the carpet business of Norman Ellison Holdings Limited and its subsidiaries, and Norman Ellison Shareholders will acquire shares in Cavalier.
Cavalier is listed on the New Zealand Stock Exchange. Based in Auckland, Cavalier manufactures and distributes broadloom carpets to the domestic and export markets.
Norman Ellison is a privately owned and operated yarn and carpet manufacturer with tufting machinery and a yarn spinning plant located in Auckland. Norman Ellison manufactures a range of carpets marketed under the Norman Ellison carpets brand in New Zealand and Australia.
In considering the application, the Commission’s role is to determine whether the acquisition has the effect of substantially lessening competition in a market.
A public version of the application is available on the Commission’s website www.comcom.govt.nz under Public Registers.