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 Redestos, is primarily active in the marketing/distribution stage and distributes a range of plant protection products, seeds and fertilizers, including Certis Belchim products.

In the context of this merger review and based on the areas of the parties’ activity, the relevant product markets of the concentration under review concern the markets for crop and seeds protection products and, in particular, the relevant market for the supply and the relevant market for the marketing/distribution of crop and seed protection products on the domestic market.

Clearance decision on the notified concentration, pursuant to Article 6 (1-3) of Law 3959/2011, concerning the acquisition of joint control by the companies “CERTIS BELCHIM B.V.” and “REDESTOS S.A.” over the companies “Κ&Ν EFTHYMIADIS - SINGLE MEMBER SOCIETE ANONYME” and “ΚΝΕ CERTIS B.V.», following the Statement of Objections under ref. no. 5080/24.07.2024 by the Commissioner-Rapporteur I. Stefatos.

Articles 5-10 of Law 3959/2011.

Operative part of the Decision

The Hellenic Competition Commission (HCC), in Chamber sitting, unanimously approves, pursuant to Article 8(3) and para. 4A of Law 3959/2011, the concentration concerning the change of control over the company Κ&Ν EFTHYMIADIS - SINGLE MEMBER SOCIETE ANONYME from sole control by REDESTOS S.A. to joint control by CERTIS BELCHIM B.V. and REDESTOS S.A., subject to terms and conditions based on the commitments offered to the HCC.

1. CERTIS BELCHIM B.V.
2. REDESTOS S.A.
3. Κ&Ν EFTHYMIADIS - SINGLE MEMBER SOCIETE ANONYME

According to the grounds of the decision, prior to the transaction under examination Certis Belcim and Redestos 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 investigation 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 the HCC’s concerns regarding possible anticompetitive foreclosure of K & N Efthymiadis’ distributors - competitors 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.