The European Commission fines Oreo maker Mondelez 337.5 million euros for blocking cross-border sales

The European Commission has imposed a €337.5 million fine on food company Mondelez, the owner of Oreo cookies and other snack brands, for hindering sales of its products between EU member states.

BRUSSELS — The European Commission has fined food company Mondelez, the owner of Oreo cookies and other snack brands, 337.5 million euros for hindering sales of its products between EU member states, the bloc's executive branch said on Thursday.

Mondelez owns the chocolate brands Cadbury and Toblerone, as well as Oreo and Chips Ahoy cookies, Triscuit crackers and Perfect Snacks nutrition bars.

The Commission said Mondelez tried to avoid that cross-border trade because it could lead to lower prices. It says this hurts consumers, who end up paying more for chocolate, cookies and coffee.

“Such illegal practices allowed Mondelez to continue to charge more for its own products, to the detriment of EU consumers,” the report said.

The Chicago-based candy and snack company has breached EU competition rules “by engaging in anti-competitive agreements or concerted practices aimed at restricting cross-border trade in various chocolate, biscuit and coffee products”, the Commission said . “And by abusing its dominant position in certain national markets for the sale of chocolate bars.”

European Competition Commissioner Margrethe Vestager said the case was about the price of groceries, which is a particularly important concern for Europeans at a time of high inflation.

“It is also about the core of the European project: the free movement of goods in the internal market,” Vestager said.

According to the EU executive, the company was involved in 22 anti-competitive agreements or concerted practices.

According to the EU, one agreement contained a provision requiring Mondelez's customers to charge higher prices for exports compared to domestic sales. The Commission added that Mondelez prevented 10 exclusive distributors from the 27-country bloc from answering sales requests from customers in other EU countries without prior approval from the company.

Related Posts

  • Business
  • June 25, 2024
  • 4 views
  • 4 minutes Read
Elon Musk welcomes third child with Neuralink CEO. Here you can see how many children he has now.

Elon Musk had a third child with an executive at Neuralink, his brain implant company. Musk and Neuralink Corp. director of special projects Shivon Zilis welcomed the baby earlier this…

  • Business
  • June 25, 2024
  • 4 views
  • 3 minutes Read
Paramount+ will increase prices for its streaming plans

Big global is raising the price of its flagship streaming service as the company looks to turn around its business. The company said Monday that it will increase the price…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

Copa America 2024 schedule, live stream: where Argentina vs. Chile can be seen

  • June 25, 2024
Copa America 2024 schedule, live stream: where Argentina vs.  Chile can be seen

Julian Assange, founder of WikiLeaks, pleads guilty to violating the Espionage Act

  • June 25, 2024
Julian Assange, founder of WikiLeaks, pleads guilty to violating the Espionage Act

How to customize your TV screensavers

  • June 25, 2024
How to customize your TV screensavers

Angel Reese leads the way in Sky's rivalry victory over Fever's Caitlin Clark

  • June 25, 2024
Angel Reese leads the way in Sky's rivalry victory over Fever's Caitlin Clark

A Maryland couple 'walked for hours' before dying in the heat of the Hajj

  • June 25, 2024
A Maryland couple 'walked for hours' before dying in the heat of the Hajj

A Hidden Treasure in the Milky Way — Astronomers discover ultra-bright X-ray source

  • June 25, 2024
A Hidden Treasure in the Milky Way — Astronomers discover ultra-bright X-ray source

India's Zyod is raising $18 million to expand its tech-enabled fashion manufacturing to more countries

  • June 25, 2024
India's Zyod is raising $18 million to expand its tech-enabled fashion manufacturing to more countries

Elon Musk welcomes third child with Neuralink CEO. Here you can see how many children he has now.

  • June 25, 2024
Elon Musk welcomes third child with Neuralink CEO.  Here you can see how many children he has now.

WikiLeaks founder Julian Assange makes plea deal with US: NPR

  • June 25, 2024
WikiLeaks founder Julian Assange makes plea deal with US: NPR

Lake Compounce in Connecticut is America's oldest theme park

  • June 25, 2024
Lake Compounce in Connecticut is America's oldest theme park

The special counsel is reluctant to limit Trump's attacks on FBI agents

  • June 25, 2024
The special counsel is reluctant to limit Trump's attacks on FBI agents