Canada charges Nestlé and Mars with price-fixing
Source: Independent
Canada charges Nestlé and Mars with price-fixing
Lewis Smith
Thursday 06 June 2013
Two of the world's biggest chocolate companies, Nestlé and Mars, have been charged in Canada with price-fixing.
The charges come after a five-year investigation by the Competition Bureau in Canada and follows a class action in which the confectionary companies agreed to pay compensation.
In a statement it announced: “The Bureau's investigation uncovered evidence suggesting that the accused conspired, agreed or arranged to fix prices of chocolate products, resulting in a referral of evidence to the Public Prosecution Service of Canada (PPSC) and charges against the accused.”
John Pecman, the Bureau's Interim Commissioner, said he was determined to stamp out “egregious anti-competitive behaviour”. He added: “Price-fixing is a serious criminal offence and today's charges demonstrate the Competition Bureau's resolve to stop cartel activity in Canada.”
The Canadian arms of Mars and Nestlé, along with the Canadian branch of Hershey and the distributor ITWAL, are alleged to have colluded to keep the price of chocolate confectionary artificially high.
Read more: http://www.independent.co.uk/life-style/food-and-drink/news/canada-charges-nestl-and-mars-with-pricefixing-8648454.html
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