Cavalier Wool Holdings Limited/New Zealand Wool Services International Limited

The Commerce Commission has received an application from Cavalier Wool Holdings seeking authorisation to acquire up to 100 per cent of:

  • New Zealand Wool Services International’s wool scouring assets and stock or any interconnected body corporate of that company; and/or
  • the shares in New Zealand Wool Services International.

When it receives an application for authorisation, the Commerce Commission must first determine whether the relevant acquisition has the effect of substantially lessening competition in a market. If it does not, the Commission may give clearance for the acquisition. If it does, the Commission must determine whether any benefits to the public of New Zealand arising from the acquisition outweigh the detriments due to the loss of competition. If there is a net positive public benefit the Commission must authorise the acquisition which may occur notwithstanding the loss of competition arising.

Current Document

PUBLIC Decision 725 Cavalier Wool Holdings New Zealand Wool Services updated 28 Sept Adobe Acrobat PDF (648 KB)

Next Steps

Final Decision 725 9 June 2011.  Updated report published 28 September 2011 to correct a drafting error at para 255.

Supporting Documents

Final Determination

10/06/2011 (1 document)

PUBLIC Decision 725 Cavalier Wool Holdings New Zealand Wool Services updated 28 Sept2 Adobe Acrobat PDF (648 KB) (opens in a new window)

Documents received after post conference response

03/06/2011 (5 documents)

Bell Gully 30 May 2011 Response to issues raised at conference Kaputone Land and Buildings pub Adobe Acrobat PDF (59 KB) (opens in a new window)
Letter from Wool Equities 30 May 2011 response on Cavaliers intended wool trading sale process Pu Adobe Acrobat PDF (2 MB) (opens in a new window)
Letter from David Stock 2 June Response to Cavaliers process for sale of WSI wool trading busines Adobe Acrobat PDF (37 KB) (opens in a new window)
Bell Gully 30 May Bayleys Research Kaputone Wool Scour Updated 27 May 2011 Adobe Acrobat PDF (40 KB) (opens in a new window)
Bell Gully 30 May Industrial rentals comparisons from Harcourts Adobe Acrobat PDF (1.8 MB) (opens in a new window)

Clarification of post conference submissions

27/05/2011 (1 document)

Bell Gully Letter for Cavalier 27 May 2011 Intended Sale Process for WSI Wool Trading Division Pub Adobe Acrobat PDF (48 KB) (opens in a new window)

Post conference responses and submissions on variation

24/05/2011 (7 documents)

Bell Gully for Cavalier Post Conference Response 18 May 2011 Public Adobe Acrobat PDF (310 KB) (opens in a new window)
Chapman Tripp for Godfrey Hirst Submission on CWH variation 20 May 2011 public Adobe Acrobat PDF (1.2 MB) (opens in a new window)
Godfrey Hirst Post Conference Response 20 May 2011 public Adobe Acrobat PDF (377 KB) (opens in a new window)
NERA post conference report 18 May 2011 Public Adobe Acrobat PDF (2.9 MB) (opens in a new window)
Response on Legal Issues from WSI 20 May 2011 public Adobe Acrobat PDF (298 KB) (opens in a new window)
WSI Post conference response Appendices to Further Submission REVISED 27 MAY 2011 public Adobe Acrobat PDF (1015 KB) (opens in a new window)
WSI Post conference response Further Submissions from WSI 18 May 2011 REVISED 27 MAY 2011 public vers Adobe Acrobat PDF (591 KB) (opens in a new window)

Variation to Cavalier's Application for Authorisation

12/05/2011 (1 document)

Letter to Commission Bell Gully 12 May 2011 Variation to Cavaliers Application for Authorisation Adobe Acrobat PDF (45 KB) (opens in a new window)

Conference transcripts

06/05/2011 (2 documents)

Transcript Cavalier Wool NZ Wool Services International Authorisation Conference Day 2 5 May 2011 Adobe Acrobat PDF (418 KB) (opens in a new window)
Transcript Cavalier Wool NZ Wool Services International Authorisation Conference Day 1 4 May 2011 Adobe Acrobat PDF (496 KB) (opens in a new window)

Documents provided at conference

09/05/2011 (3 documents)

NZ Wool Services International Recovery in Wool Production provided at Cavalier Wool NZ Wool Services International Authorisation Conference 6 May 2011 Adobe Acrobat PDF (125 KB) (opens in a new window)
NZ Wool Services International Breakdown of Wool Numbers provided at Cavalier Wool NZ Wool Services International Authorisation Conference 6 May 2011 Adobe Acrobat PDF (4.2 MB) (opens in a new window)
NZWSI David Goddard QC Preliminary Observations on CWH Proposed Divestment Undertaking provided at Cavalier Wool NZ Wool Services International Authorisation Conference 6 May 2011 Adobe Acrobat PDF (1015 KB) (opens in a new window)

Conference agenda

02/05/2011 (3 documents)

Agenda for Conference Cavalier Wool NZ Wool Services Authorisation Application 2 May 2011 Adobe Acrobat PDF (18 KB) (opens in a new window)
Note for release with Agenda for Conference Cavalier Wool NZ Wool Services Authorisation Application 2 May 2011 Adobe Acrobat PDF (25 KB) (opens in a new window)
Notification of Conference Cavalier authorisation 7 April 2011 Adobe Acrobat PDF (30 KB) (opens in a new window)

List of issues for consideration

02/05/2011 (3 documents)

Cavalier Wool Bell Gully List of Issues for Consideration at Conference Cavalier Wool NZ Wool Services Authorisation Application 2 May 2011 Adobe Acrobat PDF (126 KB) (opens in a new window)
Wool Services International Issues for Consideration at Conference Cavalier Wool NZ Wool Services Authorisation Application 3 May 2011 Adobe Acrobat PDF (333 KB) (opens in a new window)
Godfrey Hirst Issues for Consideration at Conference Cavalier Wool NZ Wool Services Authorisation Application 3 May 2011 Adobe Acrobat PDF (127 KB) (opens in a new window)

Proposed divestment undertaking from applicant – withdrawn and replaced by variation 12 May 2011

03/05/2011 (1 document)

Cavalier Wool Holdings Limited Proposed Divestment Undertaking Cavalier Wool NZ Wool Services Authorisation Application Received 3 May 2011 Adobe Acrobat PDF (1.1 MB) (opens in a new window)

Submissions after draft determination

29/04/2011 (1 document)

David Stock Submission after the Cavalier Wool NZ Wool Services Authorisation Draft Determination 29 April 2011 Adobe Acrobat PDF (44 KB) (opens in a new window)

Submissions on draft determination

27/04/2011 (22 documents)

Castalia Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (182 KB) (opens in a new window)
Cavalier Wool Bell Gully Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (1.9 MB) (opens in a new window)
Cavalier Wool Bell Gully Annexure A Market Strategy China Wool Industry Statistics Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Adobe Acrobat PDF (2.7 MB) (opens in a new window)
Cavalier Wool NERA Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (188 KB) (opens in a new window)
Christchurch Yarns Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public2 Adobe Acrobat PDF (1.1 MB) (opens in a new window)
David McKitterick Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 public2 Adobe Acrobat PDF (369 KB) (opens in a new window)
Federated Farmers Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (307 KB) (opens in a new window)
GodfreyHirst Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Revised 28 April 2011 Adobe Acrobat PDF (267 KB) (opens in a new window)
Note that Schedule 2 of the submission has been revised on 28 April 2011.
John Marshall Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (135 KB) (opens in a new window)
John Marshall Appendix of Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (6.3 MB) (opens in a new window)
Mark Hassall Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 23 April 2011 Adobe Acrobat PDF (31 KB) (opens in a new window)
Mike Davis Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 23 April 2011 Adobe Acrobat PDF (27 KB) (opens in a new window)
Robert Pratt Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (640 KB) (opens in a new window)
Timbercombe Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (29 KB) (opens in a new window)
Wool Equities Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (118 KB) (opens in a new window)
Wool Partners International Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (29 KB) (opens in a new window)
Woolrite Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (596 KB) (opens in a new window)
Wool Services International David Stock Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (66 KB) (opens in a new window)
Wool Services International Futures Consultants Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (349 KB) (opens in a new window)
Wool Services International Futures Consultants Appendix A Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (201 KB) (opens in a new window)
Wool Services International Letter from David Goddard to WSI Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (107 KB) (opens in a new window)
Wool Services International Statement from Dr Alan Reay Submission on Cavalier Wool NZ Wool Services Authorisation Draft Determination 27 April 2011 Public Adobe Acrobat PDF (104 KB) (opens in a new window)

Request regarding conference

27/04/2011 (4 documents)

Response to New Zealand Wool Services International Letter re Timeframes Cavalier Wool NZ Wool Services Authorisation Conference 29 April 2011 Adobe Acrobat PDF (157 KB) (opens in a new window)
New Zealand Wool Services International Letter re Timeframes Cavalier Wool NZ Wool Services Authorisation Conference 28 April 2011 Public Adobe Acrobat PDF (107 KB) (opens in a new window)
Reply to New Zealand Wool Services International Letter re Timeframes Cavalier Wool NZ Wool Services Authorisation Conference 26 April 2011 Adobe Acrobat PDF (2 MB) (opens in a new window)
New Zealand Wool Services International Letter re Timeframes Cavalier Wool NZ Wool Services Authorisation Conference dated 23 April 2011 received 26 April 2011 Adobe Acrobat PDF (649 KB) (opens in a new window)

Responses to question about draft determination

19/04/2011 (1 document)

Response to Question from NERA Cavalier Wool NZ Wool Services Authorisation Draft Determination Public version 19 April 2011 Adobe Acrobat PDF (1.2 MB) (opens in a new window)

Draft determination

13/04/2011 (1 document)

Draft determination Cavalier authorisation 13 April 2011 Public Version Adobe Acrobat PDF (322 KB) (opens in a new window)

Submissions on application

01/04/2011 (4 documents)

W and SG Bremner Submission on Cavalier Wool NZ Wool Services Authorisation Application 23 March 2011 Adobe Acrobat PDF (1000 KB) (opens in a new window)
Wool Equities Submission on Cavalier Wool NZ Wool Services Authorisation Application 31 March 2011 Adobe Acrobat PDF (65 KB) (opens in a new window)
Garth Carnaby Additional Submission on Cavalier Wool NZ Wool Services Authorisation Application 4 April 2011 Adobe Acrobat PDF (93 KB) (opens in a new window)
Robert Pratt Submission on Cavalier Wool NZ Wool Services Authorisation Application Public Version 7 April 2011 Adobe Acrobat PDF (1 MB) (opens in a new window)

Submissions from applicant

30/03/2011 (13 documents)

Bell Gully Review of information from meeting Public version Cavalier Wool NZ Wool Services Authorisation Application 22 February 2011 Adobe Acrobat PDF (164 KB) (opens in a new window)
Bell Gully Impact of removal of WSI through the acquisition Public version Cavalier Wool NZ Wool Services Authorisation Application 9 March 2011 Adobe Acrobat PDF (190 KB) (opens in a new window)
Bell Gully Preliminary response to GH submission Public version Cavalier Wool NZ Wool Services Authorisation Application 10 March 2011 Adobe Acrobat PDF (70 KB) (opens in a new window)
NERA Response to Castalia Public version Cavalier Wool NZ Wool Services Authorisation Application 10 March 2011 Adobe Acrobat PDF (67 KB) (opens in a new window)
Bell Gully Follow up on 10 March meeting Public version Cavalier Wool NZ Wool Services Authorisation Application 14 March 2011 Adobe Acrobat PDF (180 KB) (opens in a new window)
NERA Memo on Wool Detriments Public version Cavalier Wool NZ Wool Services Authorisation Application 16 March 2011 Adobe Acrobat PDF (160 KB) (opens in a new window)
Bell Gully Efficiencies from previous merger Public version Cavalier Wool NZ Wool Services Authorisation Application 18 March 2011 Adobe Acrobat PDF (40 KB) (opens in a new window)
Bell Gully Capital Cost Savings Public version Cavalier Wool NZ Wool Services Authorisation Application 21 March 2011 Adobe Acrobat PDF (57 KB) (opens in a new window)
NERA Impact of Variable Cost Reductions Public version Cavalier Wool NZ Wool Services Authorisation Application 25 March 2011 Adobe Acrobat PDF (58 KB) (opens in a new window)
Bell Gully Letter on Superstore Benefit Public version Cavalier Wool NZ Wool Services Authorisation Application 28 March 2011 Adobe Acrobat PDF (91 KB) (opens in a new window)
Bell Gully Letter on Y benefit Public version Cavalier Wool NZ Wool Services Authorisation Application 28 March 2011 Adobe Acrobat PDF (253 KB) (opens in a new window)
Letter to Bell Gully from Argo Ventures Stephen Fookes on Y Value Public version Cavalier Wool NZ Wool Services Authorisation Application 28 March 2011 Adobe Acrobat PDF (326 KB) (opens in a new window)
Letter to Bell Gully from SL Ranford Wool colour Public version Cavalier Wool NZ Wool Services Authorisation Application 28 March 2011 Adobe Acrobat PDF (1.2 MB) (opens in a new window)

Submissions on authorisation application

23/03/2011 (9 documents)

Castalia Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 4 March 2011 Adobe Acrobat PDF (101 KB) (opens in a new window)
Fibre Tech New Zealand Ltd Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 16 February 2011 Adobe Acrobat PDF (59 KB) (opens in a new window)
Godfrey Hirst Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 4 March 2011 Adobe Acrobat PDF (90 KB) (opens in a new window)
Guy Wellwood Kelly McNeil Lawyers Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 16 March 2011 Adobe Acrobat PDF (1.7 MB) (opens in a new window)
Latitude Natural Wool Insulation Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 21 February 2011 Adobe Acrobat PDF (37 KB) (opens in a new window)
NZWSI Report from Dr Brent Layton Futures Consultants Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 7 March 2011 Adobe Acrobat PDF (96 KB) (opens in a new window)
NZWSI Report from Dr Garth Carnaby Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 3 March 2011 Adobe Acrobat PDF (446 KB) (opens in a new window)
Rimanui Farms Limited Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 10 March 2011 Adobe Acrobat PDF (136 KB) (opens in a new window)
Roger Buchanan Submission on Cavalier Wool Holdings NZ Wool Services International Authorisation Application 23 February 2011 Adobe Acrobat PDF (21 KB) (opens in a new window)

Application

08/02/2011 (2 documents)

Cavalier Wool Holdings Limited New Zealand Wool Services International Limited Authorisation Application 8 February 2011 Adobe Acrobat PDF (3.6 MB) (opens in a new window)
Cavalier Wool Holdings Limited New Zealand Wool Services International Limited Authorisation Application NERA Analysis 8 February 2011 Adobe Acrobat PDF (850 KB) (opens in a new window)