The Hellenic Competition Commission (HCC) with decision no. 854/2024 unanimously approved, subject to commitments, the change in the quality of control of company K & N Efthymiadis from exclusive control by Raidestos to joint control by the existing shareholder Raidestos and ,  Certis Belchim B.V..

The concentration concerns the sectors of plant protection products and seeds. Certis Belchim, and the wider MITSUI group to which it belongs, is active worldwide in the production/supply of plant protection products and seeds. K & N Efthimiadis, a subsidiary of Raidestos, is primarily active in the marketing/distribution stage and distributes a range of plant protection products, seeds and fertilizers, including Certis Belchim products.

Prior to the transaction under examination, Certis Belchim and Raidestos had a supplier-distributor commercial partnership.  With the acquisition of K & N Efthymiadis, all activities of the parties in the distribution of plant protection products and seeds in Greece will henceforth be carried out by the jointly controlled K & N Efthymiadis. The HCC's research showed that in Greece, Certis Belcim has high market shares in the supply of insecticides - biological products (upstream market) while K & N Efthymiadis has a significant presence in the marketing/distribution level of this product category (downstream market).

In order to address HCC’s concerns regarding possible exclusion of distributors - competitors of K & N Efthymiadis from access to biological insecticidal preparations in Greece (input foreclosure), the parties proposed and undertook commitments. Parent companies will continue to sell, distribute or otherwise make available the disputed product category by (or on behalf of) their specific subsidiary to existing and future customers in Greece, competitors of K & N Efthymiadis.  The parties will implement the merger agreement in a manner that does not directly or indirectly affect such sales, distribution or disposition of the products at issue.  The commitments will last for five (5) years.

This is the second merger case in which HCC accepts commitments during the short Phase I assessment process, ensuring flexibility and speed in the process.

The full text of Decision no 854/2024 will be published in the Government Gazette and on the website of the Hellenic Competition Commission.