Electrolux Fined €44.5 Million in French Antitrust Case

Electrolux, the Swedish home appliances manufacturer, announced on Thursday that it had been fined €44.5 million ($46.3 million) by the French Competition Authority over allegations of antitrust violations. The fine stems from an investigation into practices between 2009 and 2014, according to Reuters. The company confirmed that the penalty was fully accounted for in a provision made in 2023.

The French Competition Authority stated that the alleged antitrust breaches involved activities that “reduced competition between distributors and kept prices artificially high for end-consumers.” This investigation targeted multiple firms in the industry, with Electrolux and its peers facing scrutiny over their business practices during the five-year period.

Per Reuters, Electrolux acknowledged the ongoing inquiry earlier and disclosed its potential implications. Ten out of the twelve implicated companies reportedly did not contest the accusations presented by the authority.

Related: Electrolux Settles French Antitrust Case For $60M

Groupe SEB, the owner of Tefal and Rowenta brands, received the largest fine of €189.5 million. Unlike most of the companies involved, Groupe SEB denied the allegations and stated its intention to appeal the ruling. Meanwhile, French retailer Fnac Darty, penalized with a €109 million fine, accepted the decision and announced plans to settle the payment in 2025 through short-term financing.

Requests for comments from Electrolux, Whirlpool, and LG went unanswered as of Thursday, Reuters reported.

Source: Reuters