On 8 January 2010, the OFT cleared the completed acquisition by Teacrate, a wholly owned subsidiary of PHS Group which acquired GB Nationwide Crate Hire (“GBN”). Both companies are active in offering for hire crates and associated products for use in removals.
In their decision, the OFT had taken into account the fact that GBN had lost its largest customer, which accounted for 40-50% of its revenues. It was clear that GBN was in decline and was not offering effective competition to Teacrate immediately prior to the merger. As a result, the merger did not raise any competition concerns at either a national or local level.
8 January 2010