The European Commission raided Red Bull offices on Monday, suspecting them of cartel and price fixing. The energy drink company says it is cooperating with the investigation.
Risk of huge fines
The searches were carried out on suspicion of cartelisation and abuse of the brand’s dominant position. Red Bull announced the news itself, immediately adding that it was cooperating with the investigation.
The European Commission is investigating the matter, but this does not yet mean that the company is guilty. If found guilty, Red Bull faces fines of up to 10 % of the company’s total turnover. In practice, although “monster fines” in the millions have been imposed, it almost never comes to that.
Last year, Red Bull founder and CEO Dietrich Mateschitz died at the age of 78. Since then, the energy drink producer has been run by three directors. His son Mark Mateschitz owns 49 % of the shares, while the Thai Yoovidhya family holds a small majority of the shares.