Prior notification of a concentration (Case M.10676 - NEXT / WP / PINK) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 151/11
Date: 2022-04-06
Institutions: Directorate-General for Competition, European Commission
Subjects: clothing industry, economic concentration, electronic commerce, footwear industry, furniture industry, gift item, investment, investment company, merger control, retail selling








C_2022151EN.01001101.xml










6.4.2022   


EN


Official Journal of the European Union


C 151/11






Prior notification of a concentration
(Case M.10676 - NEXT / WP / PINK)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 151/11)

1.   
On 25 March 2022, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Next Holdings Limited, a wholly owned subsidiary of Next plc (‘Next’, United Kingdom),










—


Warburg Pincus LLC (‘WP’, United States),










—


Pink Topco Limited (‘Pink’, Jersey), controlled by WP.




Next and WP will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Pink, currently solely controlled by WP.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Next is a UK-based retailer selling Next-branded menswear, womenswear, childrenswear, lingerie, footwear, homeware and furniture, gifts and flowers, both in-store and online, including in the EEA,










—


WP is a US-based member-owned global private equity firm, whose investments are focused on a range of sectors in North America, Europe and Asia, including industrial, energy, financial services, healthcare and technology, media and telecommunications, and consumer goods, including retail sale of apparel and footwear,










—


Pink is the owner of the Reiss brand, which is active in the sale of Reiss-branded menswear, womenswear, footwear and accessories, both in-store and online, including in the EEA.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.10676 – NEXT / WP / PINK
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.