Kingsmill owner cleared to create UK’s biggest bread brand with Hovis takeover

The Competition and Markets Authority cleared Associated British Foods’ £75 million acquisition of Hovis, creating the UK’s largest bread brand. The regulator found that without the deal, ABF’s bakery division would likely exit the UK market, impacting access to essential bread products for lower-income households. Hovis reported pre-tax losses of £4.7 million.

Summary by OZbrief · The Guardian Australia – Business