Commission européenne, DG  COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  20.12.2022  
C(2022 ) 9972 final  
PUBLIC VERSION  
DSM Venturing B.V . 
Het Overloon 1  
6411 TE Heerlen  
The Netherlands  
 
Fonterra (Europe) Coöperatie U.A.  
Barbara Strozzilaan 356 -360 
1083 HN Amsterdam  
The Netherlands  
Subject : Case M. 10874  – DSM / FONTERRA / TASMAN  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 23 November  2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which DSM 
Venturing B.V. (‘DSM’, the Netherlands), ultimately controlled by the Royal DSM 
N.V. group (‘Royal DSM’, the Netherlands), and Fonterra (Europe) Coöperatie U.A. 
(‘Fonterra’, the Netherlands), ultim ately controlled by Fonterra Co -operative Group 
Limited (‘Fonterra Co -operative’, New Zealand), intend  to acquire within the mean ing 
of Article s 3(1)(b)  and 3(4)  of the Merger Regulation joint control of a newly created 
company  constituting a joint venture , Tasman  B.V. (‘JV’, the Netherlands ), by way of 
purchase of shares .3 
2. The business activities of the undertakings concerned are  the following : 
 Fonterra is active in the production and sale of dairy products worldwide , 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 458, 1.12.2022 , p. 13. 

2  DSM  is active in nutrition, health and bioscience providing nutritional solutions, 
specialty additives to nutritional segments, ingredients, biomedical materials as 
well as solutions that address taste and texture . 
3. The JV will be active in the market for alternative proteins by developing and 
producing, marketing and selling fermentation -derived dairy protein . 
4. After examination of the notification, the European Commis sion has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5  (c) of the  Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
5. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.