StarKist announced late Friday, January 25, that it has agreed to a settlement worth US$20.5 million with Walmart to resolve antitrust claims. Pittsburgh-based Starkist noted that Walmart is the largest retailer for canned tuna in the United States, making a deal with the Arkansas-based company critical.
“StarKist is pleased to resolve this matter with our valued customer, Walmart. The resolution is a business-oriented and reasonable one, which sets a benchmark for resolving remaining matters with our other valued customers,” said Scott Meece, StarKist’s general counsel and senior vice president, in the official announcement.
Starkist, owned by South Korean parent Dongwon, is one of three major tuna suppliers who have been investigated for price-fixing in recent years. The US Department of Justice has been looking into allegations that StarKist, Bumble Bee Foods, and Tri-Union Seafoods, which owns Chicken of the Sea, conspired to keep prices artificially high.
Full Content: Pittsburgh Post-Gazette
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