Autorité de la concurrence, the national competition regulator in France, disclosed Dec. 19 that it approved ITM Équipement de la Maison's planned acquisition of Bricorama SA, under specific conditions.
ITM Équipement de la Maison on Oct. 18 notified the regulator about its plan to purchase Bricorama. Both companies operate in the do-it-yourself, home decor and gardening retail market, which raised competition concerns in local areas such as price increases and consumers being deprived of shopping alternatives, according to the release.
The authority cleared the transaction provided that ITM Équipement de la Maison agrees to divest five Bricorama outlets to a competitor, end a Bricorama franchise agreement and facilitate the negotiation of a new franchise agreement by a competing chain. ITM Équipement de la Maison said it has committed to the conditions to ensure adequate competition is maintained in the affected areas.