Dairy producer Lactalis McLelland has agreed to a fine from the Office of Fair Trading (OFT), which has found evidence of price-fixing between dairy companies and supermarkets in the UK.
The penalty is a result of an investigation from the watchdog, which found evidence of anti-competitive practices relating to cheese prices in 2002 and 2003.
Supermarkets Asda, Morrisons, Safeway, Sainsbury's and Tesco were all involved in sharing commercially sensitive information, as were dairy processors Arla, Dairy Crest, Lactalis McLelland, The Cheese Company (formerly Glanbia Foods) and Wiseman.
Lactalis McLelland was formed by the acquisition of A McLelland and Son by Groupe Lactalis in September 2004, and the alleged price-fixing was carried out by A McLelland and Son before the takeover.
The OFT said Lactalis would receive a discounted penalty, as a result of the company's co-operation.
Most of the companies involved have now agreed to help the regulator with its investigation and have been given a reduction on their fine.
The combined fine for all the parties involved will come to over £120 million, according to the OFT.
Supermarkets Morrisons and Tesco continue to fight the charges.
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