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The Competition Commission is a statutory body constituted in terms of the Competition Act, No 89 of 1998 by the Government of South Africa empowered to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy. 

 

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Commission approves Coricraft's acquisition of Dial-a-Bed with conditions

The Commission, on 29 October 2014, approved the acquisition of Dial-a-Bed by Coricraft Group (Pty) Ltd ("Coricraft") with conditions meant to address possible employment effects. Dial-a-Bed is a division of Ellerine Furnishers (Pty) Ltd ("Ellerines"), an indirect subsidiary of African Bank Investments Limited ("ABIL").


Ellerines is financially distressed and currently in business rescue proceedings. The parent company of Ellerines, ABIL, was also placed under curatorship on 10 August 2014 given its own financial troubles. The sale of Dial-a-Bed is as a result of the business rescue process, wherein the business rescue practitioners believe that the sale of Ellerines' assets, brands or divisions may yield a better outcome than an immediate liquidation.


Coricraft is active in the broad furniture market, including the sale of bed sets, mattresses and bed accessories. Dial-a-Bed is a specialist supplier of bed sets and mattresses. Therefore, the proposed transaction presents a horizontal overlap with respect to the sale of bed sets, and mattresses.

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