BONDUELLE:The European Commission's investigation in the market for canned mushrooms sold under retailer brand
June 25 2014 - 12:12PM
The Bonduelle Group and several other companies received today a
decision from the European Commission that imposes fines for
anticompetitive practices in the market for the sale of canned
mushrooms under retailer brand in the European Economic Area. The
Commission's investigations, along with its decision, exonerated
sales under the Bonduelle brand and only concern sales under
retailer brand.
It bears reminding that while the Commission's
investigation initially covered the period between 2006 to 2012,
the Bonduelle Group has only been active in the processing and sale
of mushrooms since the acquisition of France Champignon from Butler
Capital Partners in April 2010. In its decision, the European
Commission ultimately sanctioned the Bonduelle Group for the period
between 2010 to 2012. This decision will impact the profitability
for the financial year 2013/2014 by € 32 million, which includes
both legal fees and procedural costs. This amount, while
significant, will not threaten the Bonduelle Group's financial
health.
The Bonduelle Group takes note of the European
Commission's decision and, based on the elements in its possession
for the period prior to 2010, it intends to pursue its action for
misrepresentation and breach of warranty against the former owner,
Butler Capital Partners, before the Paris Commercial Court.
Moreover, although the Commission has not taken
a position on the potential effects of the concerned practices,
Bonduelle has, on its side, conducted an economic analysis that
shows the absence of impact of the practices on the sales prices
for retailers during the retained period.
Contacts Catherine
Richard - RP carrées Tel: 03 28 52 00 51 / P : 06 09 25 14
61 Email: catherine.richard@rp-carrees.com
The European Commission's investigation
http://hugin.info/143377/R/1802884/621567.pdf
HUG#1802884
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