Australia watchdog reviewing Heinz buyout of Rafferty's

MELBOURNE Mon Oct 29, 2012 9:16pm EDT

MELBOURNE Oct 30 (Reuters) - Australia's competition regulator said it will review a proposed takeover by H.J. Heinz Co of organic baby food supplier Rafferty's Garden Pty Ltd, which is owned by private equity firm Anacacia Capital.

Anacacia invested in Rafferty's in 2010, backing a management buyout of the company which says it is the second-largest baby-food business in Australia with a 30 percent market share. Rafferty's says it sells through 2,000 stores and exports to 10 countries, mainly in South-East Asia.

Rafferty's revenues grew fourfold in the past two years, despite the high currency, Anacacia has said.

The Australian Competition and Consumer Commission said it plans to announce a decision on Dec. 6.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.