ABF / Hovis merger inquiry

Phase 2

Administrative timetable

• Administrative timetable (PDF, 125KB) (15.1.26)

Contact

abfgrainproducts.hovis@cma.gov.uk

Responses to invitation to comment on remedies

• Bakers, Food and Allied Workers Union’s response to the invitation to comment on remedies (PDF, 81KB) (27.4.26)
• Market participant response to the invitation to comment on remedies (PDF, 87KB) (6.5.26)
• Retailer A’s response to the invitation to comment on remedies (PDF, 81KB) (27.4.26)
• Retailer B’s response to the invitation to comment on remedies (PDF, 75KB) (27.4.26)
• Retailer C’s response to the invitation to comment on remedies (PDF, 84KB) (27.4.26)
• Third party’s response to the invitation to comment on remedies (PDF, 76KB) (27.4.26)

Responses to interim report

• Market participant’s response to the interim report (PDF, 101KB) (27.4.26)
• Parties’ response to the interim report (PDF, 244KB) (27.4.26)

Invitation to comment on remedies: closed

10 April 2026: The invitation to comment on remedies sets out and consults on the actions which the CMA might take for the purpose of remedying the substantial lessening of competition and/or any resulting adverse effects provisionally identified in the interim report.

• Invitation to comment on remedies (PDF, 197KB) (10.4.26)

Interim report

26 March 2026: The CMA has provisionally found competition concerns in the supply of bread and certain other bakery products in Northern Ireland, but not in Great Britain, as part of its in-depth investigation into the anticipated acquisition by Associated British Foods plc of Hovis Group Limited.

• Interim report notice (PDF, 143KB) (26.3.26)
• Summary of interim report (PDF, 151KB) (26.3.26)
• Interim report (PDF, 1.7MB) (27.3.26)
• Appendices (PDF, 499KB) (27.3.26)

Response to our areas of focus

• Parties’ joint response (PDF, 341KB) (26.2.26)

Areas of focus

15 January 2026: This document sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.

• Areas of focus (PDF, 192KB) (15.1.26)

Inquiry group appointed

8 January 2026: The CMA has appointed the following inquiry group: 

• Cyrus Mehta (Chair)
• Ashleye Gunn
• Robin Foster

Terms of reference

8 January 2026: The CMA has referred the anticipated acquisition by Associated British Foods plc (through ABF Grain Products Limited) of Hovis Group Limited.

• Terms of reference (PDF, 100KB) (8.1.26)

Phase 1

Statutory timetable

Reference decision

8 January 2026: The CMA has referred the anticipated acquisition by Associated British Foods plc (through ABF Grain Products Limited) of Hovis Group Limited for an in-depth investigation under its fast-track procedure at the request of the merging parties.

• Decision to refer (PDF, 107KB) (8.1.26)

Launch of merger inquiry

19 December 2025: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (PDF, 87KB) (19.12.25)

Invitation to comment: closed

18 September 2025: The CMA is issuing this preliminary ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK. This invitation to comment is the first part of the CMA’s information-gathering process.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Privacy notice

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please read our privacy notice.