Old Mutual Private Equity a step closer to buying branded clothing distributor

South Africa's Competition Commission has recommended that the Competition Tribunal approve the proposed transaction whereby Old Mutual Private Equity, through the OMPE Fund V, intends to acquire footwear and apparel distributor Crick.

Crick is active in the wholesale distribution and retail sale of branded apparel, footwear and accessories under the Kappa, Superga, Alpha and Crep Protect brands. Crick is the licensed distributor of these brands in South Africa.

Of relevance to the proposed transaction was the controlling interest held by Old Mutual in Footgear, a retailer of various brands of clothing, footwear and accessories, through the Footgear, Edgars Active and High Key retail chain stores.

The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets.

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