Chocolate giants accused of price fixing

Nestlé have been charged with fixing price of chocolate

Canada has charged two of the world’s biggest chocolate makers Mars and Swiss multinational company Nestlé with colluding to fix the price of chocolate.

The Canadian Competition Bureau said it must not only prove competitors had agreed to fix prices, but that the agreement would likely have had “an undue economic effect” on the market.

In separate statements, both Nestlé and Mars announced they intend to “vigorously defend” themselves against the charges, which date back to 2007 and in some cases as far back as 2002, according to media reports.

The Competition Bureau has been probing the allegations of price fixing for over five years in a scandal that has already resulted in a major class-action suit. Confectionery specialist Hershey, as well as Mars and Nestlé all agreed to settlements as part of that suit.