CMA Investigation into the Merger of Vandemoortele and Délifrance

The UK Competition and Markets Authority (CMA) is conducting a thorough investigation into Vandemoortele Group's acquisition of Délifrance S.A. A substantial reduction of competition has been identified in the British market, particularly in the supply of frozen puff pastry products.

In-depth Investigation by the CMA

On April 22, 2026, the CMA initiated a phase 2 investigation into this acquisition. It has been found that the merger could lead to horizontal unilateral effects in the market, affecting retail and food service customers. Vandemoortele accepted the CMA's provisional findings, leading to a more detailed analysis of the anticipated reduction in competition.

Acceptance of SLC

On May 15, 2026, Vandemoortele Group notified its acceptance that the acquisition could result in a substantial reduction of competition (SLC) in the UK market. The CMA has accepted this concession, allowing the investigation to continue to propose corrective solutions.

Consultation on Corrective Measures

On June 18, 2026, the CMA launched a call for comments on possible corrective measures to be taken. The provisional report, which outlined the competitive issues, was open for comments until July 9, 2026. The consultation aims to ensure that any identified adverse effects are adequately mitigated.

Extension of Consultation Period

On February 18, 2026, the CMA extended the consideration period for proposals on corrective measures, providing more time to evaluate these options before the reference to phase 2, which concluded on April 22, 2026.

Development of the Investigation

Since its inception in October 2025, the investigation has gone through several stages. Initially, an enforcement order ensured that necessary measures were adhered to while consultations were conducted. During this period, several exemptions were granted allowing operations under certain conditions.

The CMA appointed, on April 23, 2026, an investigation team led by Martin Coleman, Ashleye Gunn, and Sir Kenneth Parker to oversee the process. The investigation will continue to evaluate how the merger could reduce competition and what measures are needed to protect the market.

Opportunities for Comments and Future Decisions

As the investigation progresses, the CMA will continue to receive feedback from stakeholders. These observations will help define the necessary corrective measures to ensure that the merger does not negatively impact competition in the UK.

The final decision is expected in October 2026, when it will be determined whether the measures proposed by Vandemoortele can mitigate the negative impacts identified during the investigation.