The Competition and Markets Authority (CMA) has given the green light to T&L Sugars Limited's acquisition of Tereos UK & Ireland's retail sugar business following an in-depth Phase 2 investigation led by an independent inquiry group.

The inquiry group examined concerns that the deal might harm competition in the UK, as only three main suppliers, including TLS and Tereos' UK retail business, dominate the sugar market for customers like supermarkets and restaurants.

Despite initial worries, the inquiry group concluded that if the deal did not proceed, Tereos' UK retail business would likely close, leading to a loss of competition. With no other less anti-competitive buyer available, the group decided to clear the acquisition.

Richard Feasey, Chair of the independent inquiry group, stated that after a thorough review of evidence, including Tereos' efforts to enhance its UK retail business, clearing the deal was deemed the appropriate decision.