The European Commission has given the green light for the acquisition of the Netherlands-based Vanderlande by Toyota Group subsidiary Toyota Industries Corp., less than two months after the agreement was announced.
The European Commission (EC) has approved the acquisition of Netherlands-based Vanderlande by Toyota Industries Corp. under the EU Merger Regulations, the commission said in a statement.
The acquisition agreement was first announced in March by the two companies, with permission from Vanderlande’s parent company, NPM Capital. An automated logistics processing and warehouse supplier for airports, Vanderlande will remain a standalone entity in the Netherlands.
According to NPM Capital, Toyota will become “a strategic shareholder” in Vanderlande, but no other financial information regarding the merger has been released as of this morning.
The EC said it approved the deal because “the proposed acquisition would raise no competition concerns because the companies are not active in the same markets and because market shares in all vertically linked markets remain limited.”
Japanese conglomerate the Toyota Group manufactures and sells automobiles, engines, compressors for automotive air-conditioners, foundry parts, electronic components, textile machinery, logistics services and non-fixed-installed and non-automated material-handling equipment. Subsidiary Toyota Industries Corp.’s material handling business represented 45 percent of its total revenues during the 2015-2016 financial year.
European Commission approves Toyota-Vanderlande deal
