Roquette Frères S.A.
Case brief
What is this about?
The Competition Commission of India analyzed a proposed combination where Roquette Frères S.A. would acquire IFF's Pharma Solutions and specific Nourish business lines. After assessing market shares in MCC and CCS segments and finding minimal incremental impact, the Commission approved the combination under Section 31(1), noting no likely adverse effect on competition.
What did the court decide?
Approval of the Proposed Combination under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No. C-2025/01/1230
04th March 2025
Notice under Section 6(2) of the Competition Act, 2002 given by Roquette Frères S.A.
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member Ms. Sweta Kakkad Member
Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 16th January 2025, the Competition Commission of India (‘ Commission ’) received a notice (‘ Notice ’) under Section 6(2) of the Competition Act, 2002 (‘ Act ’), given by Roquette Frères S.A. (‘ Roquette ’/’ Acquirer ’).
- The Notice was filed pursuant to the Transaction Agreement (‘ TA ’) dated 19th March 2024, executed between International Flavors & Fragrances Inc. (‘ IFF ’/‘ Target ’) and Roquette.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition by Roquette of IFF's Pharma Solutions and Nourish business assets will have an appreciable adverse effect on competition.
Whether the relevant market definition for microcrystalline cellulose (MCC) and croscarmellose sodium (CCS) requires further sub-segmentation by application or grade.
Whether vertical links between the target business HPMC and Roquette's hard capsules give rise to foreclosure concerns.
Parties & counsel
- applicant
Roquette Frères S.A.
- other
International Flavors & Fragrances Inc.
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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