UK, Swiss Regulators Probe Fragrance Market
March 08 2023 - 2:59AM
Dow Jones News
By Adria Calatayud
Antitrust regulators in the U.K. and Switzerland said Wednesday
that they have launched investigations into the fragrance industry,
a day after the European Commission said it had carried out
inspections over possible collusion.
The U.K.'s Competition and Markets Authority said it has reason
to suspect suppliers of fragrances and fragrance ingredients used
in consumer products have engaged in anticompetitive conduct.
Firmenich International SA, Givaudan SA, International Flavors
& Fragrances Inc. and Symrise AG are the companies under
investigation by the CMA, it said.
The Swiss Competition Commission separately said it had opened a
probe into suspicions that fragrance producers have colluded, and
also cited the four companies as being investigated. It said raids
were conducted at various locations.
The Swiss and U.K. regulators said they have been in contact
with the Antitrust Division of the U.S. Department of Justice and
the European Commission in relation to the matter.
The CMA said it may issue a statement if it reaches the
provisional conclusion that competition law has been infringed
after a period of investigation, but that no assumptions should be
made at this stage.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 08, 2023 02:44 ET (07:44 GMT)
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