CELEX: 32019M9558
Language: en
Date: 2019-10-01 00:00:00
Title: Commission Decision of 01/10/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9558 - Triton Fund V / All4Labels Group) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 01.10.2019
                                                                C(2019) 7180 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9558 – TRITON / ALL4LABELS GROUP
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 9 September 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Triton Managers V Limited (Jersey), Triton Fund V GP S.à r.l.
        (Luxembourg), and TFF V Limited (Jersey) (together referred to as ‘Triton Fund V’),
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control
        over All4Labels Group GmbH (Germany) and its subisidaries (together referred to as
        ‘All4Labels Group’), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             − Triton Fund V belongs to a group of independent European private equity
                 funds managed and advised by the Triton group (Channel Islands). The private
                 equity funds managed by the Triton group, including Triton Fund V, are
                 dedicated to investing primarily in medium-sized businesses headquartered in
                 Northern Europe, with particular focus on businesses in three core sectors:
                 Business Services, Industrials and Consumer/Health,
             − All4Labels Group develops and manufactures labels, i.e., foils, plastic or paper
                 films that can be affixed to a container or product, as well as customer-specific
                 niche products such as laminate and labelled tubes, folding cartons, and certain
                 flexible packaging products (e.g., stand up pouches and lid films used for food
                 packaging).
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 314, 18.9.2019, p. 13.
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.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(b) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. 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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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