The acquisition by Samkaup hf. of the grocery retail business of Kaupfélag Steingrímsfjarðar svf. in Hólmavík

The acquisition by Samkaup hf. of the grocery retail business of Kaupfélag Steingrímsfjarðar svf. in Hólmavík

Merger register, dated. On 18 February 2020, the Competition Authority was notified of the acquisition by Samkaup hf. (hereinafter Samkaup) of the business, fittings, equipment and stock of the grocery store of Kaupfélag Steingrímsfjarðar svf. in Hólmavík (hereinafter KSH) Samkaup operates in the grocery market and runs stores nationwide under the brand names Nettó, Krambúð, Kjörbúðin, Samkaup Strax, Seljakjör and Iceland. KSH operates the grocery store being sold, as well as a building materials department under the name Pakkhúsið in Hólmavík.

In the opinion of the Authority, the above-mentioned transaction constitutes a merger which is subject to notification requirements within the meaning of Article 17a of the Competition Act No. 44/2005. Attached to the notification was a merger filing in accordance with Article 17a of the Competition Act and Annex I to Commission Regulation (EC) No 684/2008 on merger notifications and merger proceedings, as amended. The Authority assessed the notification as sufficient in accordance with the provisions of the Competition Act and the Authority's rules on notification and procedure in merger cases.

The merger parties submitted a reasoned request for an exemption, pursuant to Article 17(a)(4) of the Competition Act, from the prohibition on the implementation of the merger. The Competition Authority considered the request and found that the conditions for such an exemption were met.