Israel: Millions in fines imposed on major food firms for unauthorized merger – World News Network

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Tel Aviv [Israel], June 23 (ANI/TPS): Israel’s Competition Commissioner announced her intention, subject to a hearing, to determine that the Strauss Group and Meshek Weiler have in fact performed a merger, in violation of Israel’s Economic Competition Law, and to impose sanctions on Strauss in the amount of 111,331,200 Shekels (USD 30.75 million), the maximum, on the Weiler farm in the amount of 1,539,922 Shekels (USD 425,392), and for senior officials in the firms in amounts ranging from approximately 168,000 (USD 46,408) to approximately 796,000 Shekels (USD 219,890).
Meshek Weiler is a company that produces and markets tofu products under the brand “Meshek Weiler,” which are distributed to chains by Strauss. In addition, Meshek Weiler produces tofu products for private brands of several entities, as well as fresh plant-based drinks for Strauss.
Strauss is a public company engaged in the production, marketing, sale and distribution of a wide variety of chilled and dry food products of various types, including milk and its products, plant-based drinks, salads and dips, sweet and salty snacks, coffee and more. As mentioned, among other things, Strauss also distributes Meshek Weiler products.
In February 2022, the competition commissioner opposed a merger deal in which Strauss sought to acquire control of Weiler, partly due to fears of harming competition in the field of fresh plant-based beverages (soy milk, almonds, etc.), in which Tnuva is the dominant player and Strauss and Weiler sought to enter. Strauss and Weiler did not appeal the commissioner’s decision. (ANI/TPS)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

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