Confectionary giant Ferrero, the maker of Nutella spread and Kinder chocolate, has said it is being targeted by investigators probing a possible violation of EU anti-trust rules.<\/p>\n
The European Commission had announced earlier this week that investigators were raiding the premises of a chocolate maker in two EU countries, without naming the firm.<\/p>\n
“Ferrero is aware that on-site inspections are currently taking place in its offices by European Commission officials,” the company, which also makes Kinder and Tic Tac sweets, said in a statement to AFP.<\/p>\n
“The company is fully cooperating and providing the information requested.”<\/p>\n
Ferrero was founded in Alba, in the north of Italy, but is now based in Luxembourg.<\/p>\n
In a statement on Monday, the European Commission said it “has concerns that the inspected company may have violated EU antitrust rules that prohibit cartels and restrictive business practices, as well as abuses of a dominant market position”.<\/p>\n
In particular, the probe focused on “possible market segmentation in the form of restrictions on the trade of goods” between member states and “obstacles to multi-country purchases”, it added.<\/p>\n
The raids do not mean the firm is considered guilty of anti-competitive behaviour, the commission noted.<\/p>\n
Unannounced investigations are a preliminary investigatory step, it said, adding there was no legal deadline to complete enquiries into anti-competitive conduct.<\/p>\n
The Ferrero Group last year announced it was acquiring US cereal mainstay WK Kellogg for $3.1 billion (\u20ac2.6 billion).<\/p>\n","protected":false},"excerpt":{"rendered":"Confectionary giant Ferrero, the maker of Nutella spread and Kinder chocolate, has said it is being targeted by…\n","protected":false},"author":2,"featured_media":401439,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":{"0":"post-401438","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-ie","10":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/401438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=401438"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/401438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/401439"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=401438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=401438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=401438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}