Recticel SA/NV (REC.BR)

Carpenter seeks majority sale of Recticel's UK arm to ease competition concerns

U.S. mattress foam producer Carpenter has proposed a partial sale of Recticel's UK arm to secure regulatory approval for its merger with the Belgian company, the Competition and Markets Authority (CMA) said in a statement on Wednesday. US-based Carpenter agreed to buy Belgian firm Recticel's global engineered foams business in a 656 million euro ($627.6 million) deal announced in 2021. "The firms accept that the merger could reduce competition in the markets where we've raised concerns," Kip Meek, Independent CMA Panel Chair, said in a statement.