Scampi merger could push up prices for UK pubs and restaurants

Summary:

Whitby Seafoods Limited, a leading UK supplier of breaded scampi, has offered to acquire Kilhorne Bay Seafoods for u00a3 [] million. The proposed deal has been referred to the Competition and Markets Authority (CMA) for review, as it is likely to result in a substantial lessening of competition in the wholesale supply of breaded scampi products to foodservice customers in the UK. The CMA investigation found that Whitby Seafoods already holds a significant market share of around 90% and that the deal would leave customers facing higher prices and lower quality products. The acquisition would reduce competition from other scampi suppliers, and the CMA has concerns about potential anti-competitive effects.

This summary provides a concise overview of the document, highlighting the key points: the proposed acquisition, the referral to the CMA for review, and the potential anti-competitive effects of the deal.