CMA approves Peninsula Business Services’ acquisition of Croner Group

Manchester-based Peninsula Business Services’ acquisition of Croner Group Limited has been approved by the Competition and Markets Authority (CMA).

CMA decided not to refer the acquisition after reviewing the marketplace and the competitive landscape in which both companies operate.

On 10th December 2015, the Peninsula Business Services Group acquired Croner Group Limited, a supplier of HR & business safety consultancy and tax fee protection insurance.

The CMA decided to review the transaction and conducted a merger inquiry, with invitation to comment opened to any interested parties and a consultation process. Following a detailed assessment, on 9th May 2016 the CMA announced its decision to clear the completed acquisition.

Peter Done, managing director of Peninsula Business Services, said: “The CMA has conducted an in-depth and detailed assessment of the marketplace in which Peninsula and Croner operate, with which we have co-operated fully.

“We are delighted that the CMA has made the decision that this acquisition does not give rise to lessening of competition in our marketplace and will not refer the acquisition to any further investigation.”

He added: “We operate in a deeply competitive and commercial environment. We differentiate Peninsula by the quality of its staff, systems, advice and customer service. We look forward to developing the Croner brand alongside that of Peninsula, investing in and taking the company forward as part of our broader Group.”

Alan Price, group operations director, added: “We thoroughly welcome the CMA’s decision and are looking forward to developing Croner, a long established business, further. We will take the best of both operating models to create an enhanced offering for both companies, creating a leading proposition to both the SME and Corporate Sector across both brands”.

For existing customers of both companies, business will continue as usual. Croner, based at Hinckley, Leicestershire, will continue to run as a standalone business within the Peninsula Group.

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