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StarKist tuna products.
StarKist Co. and Walmart reach agreement to solve claims on price fixing
(UNITED STATES, 1/28/2019)
StarKist Co. announced it reached an USD 20.5 million agreement with Walmart to resolve antitrust claims.
StarKist noted that Walmart is the largest retailer for canned tuna in the United States, so it considered critical to make a deal with the supermarket chain based in Arkansas.
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StarKist central office
“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.
The StarKist portion of the settlement is valued at USD 20.5 million, "based on a combination of cash payment and certain favorable commercial terms, which will further strengthen the business relationship between the two companies,” StarKist said in a statement.
“StarKist is committed to being a socially responsible company, and we are pleased to resolve this lawsuit with our largest customer under fair and reasonable terms,” said Andrew Choe, president and CEO. “We will continue to conduct our business with the utmost transparency and integrity, and we hope to resolve the remaining lawsuits with our other customers under similarly fair and mutually beneficial terms,” he added.
 
Headquarters of the Walmart group in Arkansas and an offer of StarKist tuna
StarKist, based in Pittsburg and owned by South Korean parent Dongwon, is one of three major tuna suppliers which was investigated for price-fixing in recent years.
The U.S. 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.
Civil lawsuits were filed by retailers, grocers, wholesalers and suppliers.
In May, Chicken of the Sea agreed with Walmart a cash settlement and a deal to participate in a series of programs and new product promotions in stores.
editorial@seafood.media
www.seafood.media
Information of the company:
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Address:
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323 N. Shore Dr., Ste. 600
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City:
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Pittsburgh
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State/ZIP:
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Pennsylvania (PA 15212)
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Country:
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United States
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Phone:
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+1 412 323 7400
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E-Mail:
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info@starkist.com
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