115.8 million euro fine in another cartel case

115.8 million euro fine in another cartel case

The European Commission has fined 8 food packaging manufacturers and 2 distributors 115.8 million euro because they kept the price of meat trays artificially high. One such cartel was also active in Belgium.

5 different cartels

The 10 companies which received the fine were all part of at least 1 of 5 separate cartels, setting up price arrangements all across Europe for polystyrene foam tray and polypropylene hard tray. Subsequently, they divided all retailers among themselves. These trays were used for cheese, meat, fish and pastry packages, with one of the cartels also active in Belgium from 2002 until 2007.

 

"Millions of consumers buying food for themselves and their families have potentially been hit by these cartels", Commissioner Margrethe Vestager said. That is also why the fines are quite large: Italian companies Sirap-Gema and Coopbox were fined more than 33 million euro. Out of the companies involved in Belgium, German Silver Plastics received the biggest fine at 22.2 million euro. British Linpac was the whistleblower to reveal the cartels and will not be fined, because otherwise it would have been fined 145 million euro. The two distributors that received fines hail from Portugal and Great Britain.

 

The Belgian Competition Authority has similarly just fined the major Belgian supermarket chains and a range of cosmetics suppliers a record sum of 174 million euro for price deals. In Germany, Aldi and Metro were also forced to pay 151.6 million euro because of their price deals regarding food. France also had to deal with its own price deal scandal: in December 2014, L'Oréal and Unilever were some of the few who were fined 951.2 million euro because of price arrangements.

Questions or comments? Please feel free to contact the editors


Slower growth for Primark

18/01/2018

Irish fashion chain Primark’s first quarter turnover grew 7 % at level exchange rates and 9 % taking the fluctuations into account. Analysts had forecast higher numbers however.

Zalando's profit is slightly below expectations

17/01/2018

German fashion web shop Zalando has grown nearly a quarter in the past fiscal year and its company profit also nearly grew 5 %, although the latter was slightly below its own expectations.

Record turnover for Yoox Net-a-Porter in 2017

16/01/2018

Online retailer Yoox Net-a-Porter (YNAP) achieved a record turnover in 2017, surpassing two billion euro. That is a growth of more than 10 % compared to the year before, when it just missed that milestone.

Hugo Boss reaches growth targets for 2017

16/01/2018

German fashion brand Hugo Boss has managed to reach its targets for 2017, partially thanks to strong fourth quarter growth. For its full fiscal year, turnover grew 3 % (excluding exchange rate fluctuations).

C&A owners consider sale to Chinese investors

15/01/2018

The Dutch Brenninkmeijer family is considering to sell clothing chain C&A according to German magazine Der Spiegel. One option is to sell to Chinese buyers.

Gucci opens restaurant and museum in Florence

12/01/2018

Fashion brand Gucci has opened a museum and a restaurant for fifty people in Florence. Three-star chef Massimo Bottura will serve high-quality meals there. A dish will cost between 20 and 30 euro.

Back to top