CINCINNATI - Banana distributor Chiquita Brands International Inc. on Friday said that some of its workers violated competition laws in Europe by improperly sharing information about fruit shipment volumes with competitors.
Chiquita, one of the world's biggest producers of bananas and other fruits and vegetables, said its management recently discovered that some employees shared pricing and volume information with rivals in Europe, in violation of European competition laws.
The company also said that some workers in a Latin American country shared information about fruit volume exported from the country to North America, though Chiquita added it did not believe the conduct in Latin America hurt competition.
The findings in Europe and Latin America resulted from an internal compliance review, Chiquita said.
Chiquita said it has notified the European Commission of its findings and is cooperating with an investigation by the Commission, which has given the company immunity from fines related to the probe. It also said that halting the information sharing should not materially affect the competitive landscape in which it operates, though Chiquita cautioned that "there can be no assurance in this regard."
Chiquita also said it has informed regulatory officials in the United States and Canada about the information sharing in Latin America, and said it would fully cooperate if the disclosure resulted in a government investigation.
Chiquita shares rose 6 cents to $29.81 in morning trading on the New York Stock Exchange. Its shares are near the high end of their 52-week range of $16.50 to $30.12.