Oreo maker Mondelez is being fined for limiting cross-border sales
The snack giant has already saved more than $360 million to deal with the costs
Oreo maker Mondelēz International will have to pay millions to the European Union (EU) for restricting cross-border sales as soon as next month.
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The Financial Times, citing three individuals with knowledge of the situation, said the EU will order the food company to stop restricting cross-border trading “because of the potential harm” it can cause consumers during a time of elevated inflation, which has caused grocery prices to soar.
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It remains to be seen when the announcement will be made and how much Mondelēz will be required to pay, the publication added. Mondelēz said it has saved roughly €340mn ($361 million) to pay the fine.
The Chicago-based Mondelēz, which owns a variety of brands including Oreo, Belvita and Triscuit, has been under the close eye of regulators for quite some time. In 2021, the EU’s antitrust investigation looked at whether the company was limiting competition by restricting cross border trading, the Financial Times reported.