LISTEN: DOJ Thwarts Potential Bagged Ice Monopoly

A proposed merger between two of the largest packaged ice companies in the U.S. has been met with a list of divestiture requirements from the U.S. Justice Department’s Antitrust Division.https://www.justice.gov/opa/pr/justice-department-requires-reddy-ice-divest-assets-proceed-proposed-acquisition-arcticReddy Ice, the biggest bagged ice manufacturer in the U.S., is looking to acquire Arctic Glacier, the country’s third largest packaged ice maker, for $126 million. The two companies combined sell ice across more than half of U.S. states and generate more than $800 million in combined annual revenue.It’s a mammoth deal with the potential to create a bagged ice monopoly. So, the DOJ is stepping in with stipulations, largely focused on ice sold to retail chains in Oregon, Washington and parts of southern California, along with packaged ice sold to airlines and airline caterers in the Boston and New York City metropolitan areas.#Antitrust, #DOJ, #JusticeDepartment, #MergerNews, #Acquisition, #ManufacturingNews, #FoodIndustry, #PackagedIce, #ReddyIce, #ArcticGlacier, #Monopoly, #CompetitionLaw, #BusinessNews, #IndustryNews, #SupplyChain, #RetailIndustry, #AirlineCatering, #ConsumerPrices, #Regulation, #CorporateNews, #USManufacturing, #MergersAndAcquisitions