Nestlé has vowed to fight the Greek government in court after the company was fined for alleged price-fixing in the country’s dairy market.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Swiss food giant was among seven dairy processors – including Vivartia, Greece’s largest food company – fined a total of EUR48.3m (US$71.1m) by the country’s Competition Commission.
Five of the companies were accused of freezing prices, while the competition watchdog said some of those involved had exchanged information on prices and were mulling fixing yoghurt prices.
However, Nestlé, which was fined EUR6.2m, has pleaded its innocence and said it would take the matter to court.
“We always acted in a very transparent and fair way in what is a very competitive environment,” a Nestlé spokesman told just-food from the company’s HQ in Switzerland.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We categorically deny all the accusations that we participated in any cartel and we will resort to the courts to get this issue settled.”
Nestlé no longer does business in the Greek dairy sector, having sold its business there two years ago.
