If chocolate were a headline, it has never tasted so delicious. People can't stop gobbling up the news this week that three companies are facing conspiracy charges over their alleged role in fixing chocolate prices in Canada.
Watchdog Competition Bureau of Canada said an investigation uncovered evidence suggesting Nestlé Canada Inc., Mars Canada Inc. and ITWAL Limited, a national network of independent wholesale distributors, conspired, agreed or arranged to fix prices of chocolate products here.
Three individuals were also charged: Robert Leonidas, former president of Nestlé Canada; Sandra Martinez, former president of confectionery for Nestlé Canada; and David Glenn Stevens, president and CEO of ITWAL.
Under the Competition Act it is a criminal offence for two or more competitors or potential competitors to conspire, agree or arrange to fix prices, allocate customers or restrict the output of a product.
Nestlé, known for Coffee Crisp and KitKat, and Mars, maker of M&M's and Snickers,Read More »from Canada chocolate price-fixing scandal hits Nestle, Mars