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29.10.2024 | 🇫🇮 Finnish competition authority
The Market Court in Finland has fined Valio 600,000 euros for breaching a condition set for the approval of the Heinon Tukku acquisition. This penalty was imposed as Valio failed to protect the price information of competing companies, as committed.
In 2021, the Finnish Competition and Consumer Authority (FCCA) granted conditional clearance for Valio's acquisition of Heinon Tukku, a foodservice wholesaler. Valio had committed to safeguarding competitors' confidential information to prevent any impact on its pricing strategies.
Valio disclosed an error in its information system firewall in late 2022, revealing that Valio Aimo staff had accessed competitors' price information for several months. The FCCA then proposed a penalty payment in December 2023, which the Market Court later imposed, albeit at a reduced amount.
The Market Court's decision is subject to further review, with the FCCA considering whether to appeal to the Supreme Administrative Court based on the seriousness of Valio's competition infringement.
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