175 / 473
NEWSLETTER 2013
162
respectively the “packed water market”, the “aromatized mineral water
market” and the “mineral water market”. However, the Board did not
define the notion of “affected market” in the decision and did not point
out the importance of the affected market within mergers and acquisitions.
Board Analysis and Findings
The Board examined the operation respectively for every affected
market:
Packed Water Market.
The Board determined that after the operation
of acquisition, Danone’s total market share would be 10% - 15% and that
Danone would rise to the second rank in the relevant product market. In
addition, Nestlé will preserve its dominant position in the packed water
market through its brands Erikli ve Pure Life. As to the water cooler bottle
market, the Board determined that Danone market share will increase to
0,5%.
In the light of the foregoing, the Board concluded that the operation
would not create a dominant position or strengthen a dominant position
in the packed water market.
Mineral Water Market.
The Board determined that after the operation
of acquisition, Danone’s total market share would be 5% - 10% and that
Danone would be in the third rank in the mineral water market after
Kızılay and Uludağ. Thus, the Board also concluded that the operation
would not create any competition concern in the mineral water market
either.
Aromatized Mineral Water Market.
The Board determined that
after the operation of acquisition Danone’s market share would be 20%-
30% in the aromatized mineral water market, that the market share of its
closest competitor Uludağ would be 15%- 20%, followed by Freşa, which
will have a market share of 10%- 15%. Thus, the Board concluded that
Danone would be in dominant position in the aromatized mineral water
market.
However, the Board stated that the aromatized mineral water market
is competitive market since it is a fast-growing market and that the
undertakings’ market shares active in the market vary in years. Thus, the