SWEET TREATS UNDER COMPETITION INVESTIGATION

After earlier reports of weather conditions threatening almond crops, the Spanish confectionary market is now facing more dilemmas, after disciplinary proceedings have been confirmed against six of the top turrón manufacturers for alleged market rigging.

The investigation began in November last year and has resulted in the markets and competition authority confirming that they have discovered “reasonable indications” of violation of competition protection laws, including direct or indirect price fixing, fixing of commercial conditions and the exchange of commercially sensitive information.

If found to be true, the allegations could result in the companies having to hand over 10% of their turnover in fines and, given the gravity of the allegations, could result in further action.

One of the companies named in the case, Almendra y Miel who are based in Alicante and own some of the industry leading brands such as 1880 and Clair de Lune, have stated that they are fully cooperating with the investigation in order to clarify the facts and to demonstrate that they complied with the law at all times,

Filed under: http://www.theleader.info/article/45234/

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