Officials at Greece’s competition regulator have fined PepsiCo almost EUR16.2m (US$21.4m) for abusing its dominant position in the market from 2000 to 2008.
The Hellenic Competition Commission fined PepsiCo-owned Tasty Foods, a company producing and distributing snacks in Greece under the Lay’s brand, for operating “without giving a thought to competition”.
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Sources at the Commission said the case was originally brought against Tasty Foods by its Greece-based competitor Tsakiris Snacks in 2006 and 2007.
A report released by the Commission following an inquiry into the allegations concluded that Tasty Foods had “adopted and implemented a single, consistent and targeted policy in the market for salty snacks that sought to exclude its competitors from smaller retail outlets” such as the street kiosks that are ubiquitous in Greece food retail.
Commission officials speaking to just-food described the fine as “substantial”, for the Greek market. The largest fine for similar abuses was EUR30m for Nestlé. The company is expected to appeal to Greece’s Administrative Court of Appeal in a process that may take up to a year.
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By GlobalData
