Brussels, 22 July 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Covetrus by Clayton, Dubilier & Rice Fund XI, L.P. and three other limited partnerships under common control (together ‘CD&R’) and TPG Partners VIII, L.P. and TPG Healthcare Partners, L.P. (together ‘TPG’), all of the US.
Covetrus is a publicly listed company globally active in the provision of animal health-related technology and services to veterinarians and animal-health practitioners. CD&R is a private equity investment firm. TPG is a private equity investment fund. The Commission concluded that the proposed acquisition would raise no competition concerns, given the lack of horizontal and vertical overlaps between the companies’ activities. The transaction was examined under the simplified merger review procedure.
Source – EU Commission