Purchase of Kvosin ehf. by Basko ehf.

The Competition Authority has been reviewing the acquisition of Kvosin ehf. by Basko ehf. Basko is the parent company of retail businesses that operate grocery stores under the 10-11 and Iceland brands. The group operates around forty stores across the country, the majority of which are located in the capital region. The group is the fourth largest retailer of groceries in Iceland. Kvosin's operations consist of running one grocery shop on Aðalstræti in the centre of Reykjavík. The Competition Authority's investigation revealed that there is no reason to believe that the concentration in the defined market in this case, following the merger, could be a basis for a significant impairment of competition. Furthermore, there is no reason to believe that competition will be otherwise significantly impaired. Following an investigation, the Competition Authority has concluded that there is no reason to take action regarding this merger under Article 17 of the Competition Act No. 44/2005.