LONDON (Alliance News) - The Real Good Food Company PLC said Wednesday that the Competition and Markets Authority has said the complaint made by its Napier Brown subsidiary against British Sugar PLC has not passed the regulator's prioritisation procedure.
Real Good Food said the pricing complaint made by Napier Brown against British Sugar, a subsidiary of Associated British Foods PLC, has "strategic value," but said conducting a full investigation could take at least two years to conclude.
It said it currently has nine live competition enforcement cases and said the strategic benefits are outweighed by the risks and resources involved in pursuing the case, Real Good Food said.
The CMA said that the decision does not mean the Napier Brown case is invalid, but just meant it was unable to prioritise the case at present, the company added.
Napier Brown has an outstanding offer to bring the case back to the European Commission and it intending to open discussion with them shortly.
Real Good Food said the CMA's decision does not impact on its current trading.
Real Good Food shares were untraded on Wednesday, quoted at 31 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
AB Foods (ABF)