الخميس, مايو 23rd 2024
Mondelez faces hefty fines for years of anti-competitive practices, affecting chocolate prices across Europe.
Mondelez has faced significant repercussions for distorting competition and artificially raising product prices. The EU Commission fined the US-based food giant €337.5 million on Thursday, as announced by competition authorities.
Mondelez, known for products like Toblerone, Milka, and Daim, prevented lower-priced German chocolate from being resold in other EU countries such as Austria and Belgium. This led to noticeable price increases for Mondelez products in some EU markets.
The EU Commission began its investigation in January 2021, uncovering 22 anti-competitive agreements involving Mondelez. Margrethe Vestager, the EU Commissioner for competition, highlighted that price differences ranged from 10% to 40%, sometimes even more.
Mondelez, with its European headquarters in Switzerland, claimed these practices were isolated incidents involving intermediaries, representing a minor part of their European business. The company emphasized its commitment to regulatory compliance and stated it had improved internal processes.
The Commission found agreements that required Mondelez customers to charge higher prices for exports than for domestic sales between 2012 and 2019, affecting all EU markets. These practices enabled Mondelez to maintain higher prices, ultimately harming EU consumers.
The European consumer protection organization, Beuc, supported the Commission’s actions. Beuc Director General Monique Goyens criticized Mondelez’s actions, which forced consumers in some EU countries to pay more for products due to illegal practices.
Despite the severity of the fine, Mondelez had 15% of the penalty waived for cooperating with the Commission and acknowledging responsibility. Mondelez had reserved funds for the fine in 2023, indicating no additional measures would be necessary.
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