Kraft Foods, Nestle among 11 chocolate makers fined combined €60M by German antitrust authorities for colluding to rig confectionery prices
January 31, 2013
(Industry Intelligence Inc.)
– Eleven chocolate makers including Kraft Foods Group Inc. and Nestle SA have been fined a combined €60 million (US$81.3 million) by German antitrust authorities for colluding to rig confectionery prices, the Associated Press reported Jan. 31.
The offenses--which included agreeing on how much to increase the price of chocolate bars when the cost of raw materials rose sharply in 2007--occurred between 2004 and 2008, authorities said.
Mars Inc. avoided a fine by alerting authorities to the illegal practices.
The primary source of this article is the Associated Press, New York, New York, on Jan. 31, 2013.