Competition Bureau to review Tribunal ruling on its challenge of P&H's acquisition of grain elevator in Virden, MB

GATINEAU, QC, Nov. 1, 2022 /CNW/ - The Competition Tribunal issued a decision dismissing the Competition Bureau's challenge of Parrish & Heimbecker's (P&H) acquisition of one primary grain elevator in Virden, Manitoba from Louis Dreyfus Company (LDC). While we are disappointed that the Tribunal has ruled against our challenge, we are carefully reviewing the Tribunal's decision to determine appropriate next steps.

In December 2019, the Bureau filed an application with the Tribunal for an order requiring P&H to sell either its own elevator in Moosomin, Saskatchewan, or the former LDC elevator in Virden.

The Bureau took this action to protect competition for farmers and customers after it concluded that the acquisition eliminated the rivalry between the only two grain elevators along a 180 km stretch of the TransCanada Highway. Before this transaction, the two elevators closely monitored each other's wheat and canola prices and responded to competitive activity by offering farmers better prices for Canadian grains.

The Tribunal's reasons are confidential at this time. A summary of the decision is available on the Tribunal website. A public version of the reasons will be released at a later date.

Associated Links

• Competition Bureau challenges P&H's acquisition of grain elevator from Louis Dreyfus in Virden, MB
• Summary of the Competition Tribunal's decision

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

SOURCE Competition Bureau

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