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Sausage makers fined $460M for price-fixing

Published July 15, 2014 9:16 am

Food prices • Germany's antitrust authority said companies in collusion since 2003.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Berlin • Germany's antitrust authority has imposed fines totaling $460 million on 21 sausage manufacturers for colluding on prices.

The Federal Cartel Office said Tuesday that the fines also included penalties against 33 individuals. The companies punished included Nestle subsidiary Herta, as well as Meica, Boeklunder and Wiesenhof.

The cartel office says major sausage makers started colluding in 2003 to push through higher prices, agreeing on price ranges for various products. It says it was tipped off by an anonymous informant. Eleven companies decided to cooperate with authorities and admit wrongdoing.



Cartel office chairman Andreas Mundt said the fines look high "but they are put into perspective by the large number of companies involved, how long the cartel lasted and the billions made in revenue on the market."

 

 

 

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