The Commerce Commission has opened an investigation into Beijer Ref AB's 2018 acquisition of Heatcraft New Zealand Limited, and its 2019 acquisition (via its subsidiary Kirby NZ Limited) of a "grandparented" right to import hydrofluorocarbons (HFCs) into New Zealand.
Beijer sold the Heatcraft New Zealand business to Reece New Zealand Limited soon after acquiring it in 2018, but retained the corporate vehicle, which has been renamed Kirby NZ Limited.
The Commission will consider whether competition is likely to have been substantially lessened in any relevant market in breach of sections 47 and/or 27 of the Commerce Act. Beijer did not apply for clearance for the 2018 (or 2019) acquisition.
Beijer (through its subsidiaries Realcold and Patton) and Reece are major suppliers of refrigeration and air conditioning equipment in New Zealand.
