The Danish Competition Authority’s investigation into alleged pricing in Israel’s food and retail trade is becoming broader. Rami Levy, owner and CEO of the supermarket chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE: RMLI) came to the Danish Competition Authority’s offices this morning. It is still unclear whether he gave explanation or interrogated with caution.
It was previously reported that the Israeli importer Diplomat Holdings Ltd. (TASE: DIPL) announced to the Tel Aviv Stock Exchange (TASE) that “On November 9, CEO and controlling shareholder Noam Weiman was questioned on suspicion of having committed alleged violations of economic competition. Law 1988. At the conclusion of the hearing no restrictions or conditions were imposed on Mr Weiman. “
The competition authority attacks Shufersal, Strauss’ offices
The statement added: “The company believes that when the facts become clear, it will turn out that Mr Weiman’s and the company’s conduct was without error.”
At first it was thought that Weiman was only testifying, but it is now clear that he was interrogated with caution.
Diplomat is one of Israel’s largest importers and distributors of food and consumer goods, including international brands such as Heinz, Milka, Mars, Jacobs Coffee, Pringles, Starkist Tuna, Kellogg’s, Red Bull, Beyond Meat and more.
The Israeli competition authority’s investigation into Diplomat follows yesterday’s raids on the offices of Israel’s largest supermarket chain Shufersal Ltd. (TASE:SAE) and food producer Strauss Group Ltd. (TASE:STRS). Shufersal CEO Itzik Abercohen was among the top executives surveyed. Victory Supermarket Chain Ltd. (TASE: VCTR) Founder and CEO Eyal Ravid also testified about the study.
Victory said in a statement this morning: “The company believes the investigation will have no effect on its or its CEO’s activity.”
Many more executives are expected to be questioned in the investigation in the coming days.
Presumption of innocence: Those who are investigated are only suspects and have the right to be presumed innocent.
Published by Globes, Israel business news – en.globes.co.il – November 10, 2021.
© Copyright by Globes Publisher Itonut (1983) Ltd., 2021.