Hershey Canada: will plead guilty in Chocolate Cartel

Hershey / PA. (thc) Hershey Canada Inc. announced that it has reached a settlement agreement with the Canadian competition authorities with regard to an inquiry into alleged violations of the Canadian Competition Act in the sale and supply of chocolate products sold in Canada by members of the confectionery industry.

Subject to court approval, Hershey Canada will plead guilty to one count of price fixing related to communications with competitors in Canada in 2007. Hershey Canada promptly reported the conduct to the Competition Bureau, cooperated fully with its investigation and did not implement the planned price increase that was the subject of the 2007 communications.

The Hershey Company (THC) works diligently to earn the trust of its customers and consumers each and every day through great-tasting, high-quality products. Hershey Canada regrets its involvement in this incident as the communications were not in keeping with The Hershey Company´s principles, global business practices and high ethical standards.

THC is confident the conduct was limited to Hershey Canada and the Canadian marketplace. The current Hershey Canada senior management team as well as The Hershey Company and its management had no involvement in this conduct – THC said in a statement.

Hershey Canada and The Hershey Company remain committed to the highest ethical business practices and have enhanced their compliance training to raise their employees´ understanding of the Company´s Code of Business Conduct.