Hunter Douglas N.V. / 247 Home Furnishings Ltd merger inquiry
Source: gov.uk (2025-06-03)

The CMA is investigating the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019.

Phase 2

Administrative timetable

Date of referral: 1 April 2020

Statutory deadline: 15 September 2020
- Administrative timetable (https://assets.publishing.service.gov.uk/media/5ea0409f86650c031715999d/Hunter_Douglas-247-_administrative_timetable.pdf) (22.4.20)
Case closure summary

3 August 2021: The purchase of the Divestment Package by Cristobal Consulting Ltd was approved by the CMA and completed on 7 July 2021. This brings the merger investigation to a close.
- Case closure summary (https://assets.publishing.service.gov.uk/media/6107d6c4e90e0703aee75938/Case_closure_summary_xx-xxxx-xxxx.pdf) (3.8.21)
Remedy Group appointed

9 December 2020: The CMA appointed the following panel group members to the Remedy Group:

Kirstin Baker (Chair) (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/inquiry-chairs-biographies#kirstin-baker), Anne Fletcher (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#anne-fletcher), Robin Foster (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#robin-foster) and Mark Thatcher (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#mark-thatcher)

Final Undertakings

7 December 2020: The CMA has accepted final undertakings and the reference has now been fully determined.
- Final undertakings (https://assets.publishing.service.gov.uk/media/5fca4bdad3bf7f5d0790a9df/FINAL__NON-CONFIDENTIAL__HD_247_Final_Undertakings.pdf) (7.12.20)
- Notice to accept final undertakings (https://assets.publishing.service.gov.uk/media/5fca4bf6d3bf7f5d06b02afd/FINAL_HD_247_Notice_to_accept_final_undertakings.pdf) (7.12.20)
- Appointment of monitoring trustee (PDF, 121KB) (https://assets.publishing.service.gov.uk/media/683dc1371b807cfa6995e082/_Hunter_Douglas_N.V_appointment_of_monitoring_trustee.pdf) (3.6.25)
Notice of proposal to accept final undertakings

5 November 2020: The CMA gives notice of the proposal to accept final undertakings and is inviting comments on the proposed draft undertakings by 5pm on 19 November 2020.
- Draft final undertakings (https://assets.publishing.service.gov.uk/media/5fa2d4dfd3bf7f03a7a9917e/HD_247_Draft_Final_Undertakings_.pdf) (5.11.20)
- Notice of proposal to accept final undertakings (https://assets.publishing.service.gov.uk/media/5fa2d5038fa8f5789096df59/HD_247_Notice_of_proposal_to_accept_final_undertakings_.pdf) (5.11.20)
Final report
- Final report (https://assets.publishing.service.gov.uk/media/5f609befe90e072bbfa0bc96/Hunter_Douglas_247_-_Final_Report__NON-CONFIDENTIAL__web_---_pdf_-.pdf) (15.9.20)
- Appendices and glossary (https://assets.publishing.service.gov.uk/media/5f609c0b8fa8f5106ef9bddc/Hunter_Douglas_247_-_Final_Report_Appendices_and_Glossary__NON-CONFIDENTIAL__web_-----.pdf) (15.9.20)
- Summary of final report (https://assets.publishing.service.gov.uk/media/5f5b8a588fa8f5106c6c4294/Hunter_Douglas_247_-_Final_Report_Summary_-_FINAL_---.pdf) (14.9.20)
- Press release: Final decision published in window blind merger inquiry (https://www.gov.uk/government/news/final-decision-published-in-window-blind-merger-inquiry) (14.9.20)
Responses to provisional findings and possible remedies
- Decora Blind Systems Limited’s response to the notice of possible remedies (https://assets.publishing.service.gov.uk/media/5f460f2fd3bf7f69a7fbe18c/Letter_to_the_CMA_response_to_proposed_remedies__.pdf) (26.8.20)
- Parties’ response to provisional findings (https://assets.publishing.service.gov.uk/media/5f352530e90e0732d9008dd2/Parties_response_to_Provisional_Findings.pdf)(13.8.20)
- Parties’ response to the notice of possible remedies (https://assets.publishing.service.gov.uk/media/5f2927b18fa8f57acc8d821c/Response_to_Remedies_Notice.pdf) (4.8.20)
Provisional findings

16 July 2020: The CMA has provisionally found the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 gives rise to competition concerns.
- Provisional findings (https://assets.publishing.service.gov.uk/media/5f11b08fd3bf7f5bae197874/Hunter_Douglas_PFs_final.pdf) (17.7.20)
- Appendices and glossary (https://assets.publishing.service.gov.uk/media/5f11b0aee90e075e8f9bef00/Hunter_Douglas_PFs_-_Appendices.pdf) (17.7.20)
- Summary of provisional findings (https://assets.publishing.service.gov.uk/media/5f102a603a6f400383ad80c5/Summary_of_PFs.pdf) (16.7.20)
- Notice of provisional findings (https://assets.publishing.service.gov.uk/media/5f0f1c1be90e07031bf9c98c/Notice_of_Provisional_Findings_.pdf) (16.7.20)
- Remedies notice (https://assets.publishing.service.gov.uk/media/5f0f1c273a6f4003821a9350/Remedies_Notice_HD247.pdf) (16.7.20)
- Press notice: Customers could lose out in merger between window blind companies (https://www.gov.uk/government/news/customers-could-lose-out-in-merger-between-window-blind-companies) (16.7.20)
Initial submissions
- Parties’ main submission (https://assets.publishing.service.gov.uk/media/5ece333586650c76ab17fc2e/NON-CONF_VERSION_-_Hunter_Douglas_Main_Submission_-_pdf.pdf) (27.5.20)
Issues Statement

30 April 2020: The issues statement sets out the scope of the investigation. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.
- Issues statement (https://assets.publishing.service.gov.uk/media/5eaab03d86650c4354c6443e/Hunter_Douglas_247_-_Issues_Statement_for_publication_---.pdf) (30.4.20)
Directions to appoint a monitoring trustee

27 April 2020: The CMA directed Hunter Douglas N.V., pursuant to the Initial Enforcement Order dated 20 November 2019, to appoint a monitoring trustee.
- Directions to appoint a monitoring trustee (https://assets.publishing.service.gov.uk/media/5eac119fd3bf7f652c8f854d/Directions_to_appoint_monitoring_trustee_---.pdf) (1.5.20)
Inquiry group appointed

8 April 2020: The CMA has appointed the inquiry group:

Kirstin Baker (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/inquiry-chairs-biographies#kirstin-baker) (Chair), Anne Fletcher (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#anne-fletcher), Robin Foster (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#robin-foster) and Mark Thatcher (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#mark-thatcher)

Terms of reference

1 April 2020: The CMA has referred the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 for an in-depth investigation.
- Terms of reference (https://assets.publishing.service.gov.uk/media/5e8458f6d3bf7f1343ebffbb/Hunter_Douglas_-_247_Home_Furnishings_-_Terms_of_reference_-.pdf) (1.4.20)
Phase 1

Reference decision

1 April 2020: The CMA has referred the completed acquisition by Hunter Douglas N.V. of convertible loan notes and certain rights in 247 Home Furnishings Ltd. in 2013 and the completed acquisition by Hunter Douglas N.V. of a controlling interest in 247 Home Furnishings Ltd. in 2019 for an in-depth investigation.
- Decision to refer (https://assets.publishing.service.gov.uk/media/5e8b2c2086650c18cf162793/Decision_to_refer.pdf) (6.4.20)
Reference unless undertakings accepted

20 March 2020: The CMA has decided, on the information currently available to it, that it is or may be the case that these transactions have resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. These transactions will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.
- Full text decision (https://assets.publishing.service.gov.uk/media/5ea02c81e90e07048d8ecc5d/Hunter_Douglas-_Home_Furnishings_247_-__Decision_on_SLC.pdf) (22.4.20)
- Summary of phase 1 decision (https://assets.publishing.service.gov.uk/media/5e74b39ed3bf7f467e8296a3/HD_247_-_Executive_Summary.pdf) (20.3.20)
- News story: Merger between window blind companies raises competition concerns (https://www.gov.uk/government/news/mergers-between-window-blind-companies-raises-competition-concerns) (20.3.20)
Launch of merger inquiry

27 January 2020: The CMA announced the launch of its merger inquiry by notice to the parties.
- Commencement of initial period notice (https://assets.publishing.service.gov.uk/media/5e2ef70440f0b62c5029d61f/Hunter_Douglas_247_notice_of_commencement_---_web_version.pdf) (28.1.20)
Invitation to comment: now closed

28 January 2020: The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Initial enforcement order

On 20 November 2019, The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 in relation to the completed acquisition by Hunter Douglas N.V. of 247 Home Furnishings Ltd.
- Initial enforcement order (https://assets.publishing.service.gov.uk/media/5dd680b840f0b650d9ba9ae2/Hunter_Douglas_247_initial_enforcement_order_.pdf) (21.11.19)
Amendments/consents granted:
- Derogation 8 September 2020 (https://assets.publishing.service.gov.uk/media/5f639821d3bf7f723f8f575e/Derogation_8_September_2020_-.pdf) (18.9.20)
- Derogation 7 September 2020 (https://assets.publishing.service.gov.uk/media/5f63980a8fa8f51064e88a92/Derogation_7_September_2020_-.pdf) (18.9.20)
- Derogation 20 May 2020 (https://assets.publishing.service.gov.uk/media/5ece330186650c76a9e44698/Derogation_20_May_2020_-_HD_247.pdf) (27.5.20)
- Derogation 24 April 2020 (https://assets.publishing.service.gov.uk/media/5eac118fe90e0723b766f2d1/Derogation_24_April_2020_---pdf_a.pdf) (1.5.20)
- Derogation 11 December 2019 (https://assets.publishing.service.gov.uk/media/5df2122840f0b60956f5a2a4/Derogation_Letter_11122019_NCV_Redacted.pdf) (12.12.19)
Contact

Please send written representations about any competition or public interest to:

Joseph Cruden

xxx@xxx.xx (mailto:xxx@xxx.xx)