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Mars and Nestle accused of price fixing

Mars Incorporated and Nestle, two of the world's biggest chocolate companies, have been accused of price fixing. Credit: Press Association

Mars and Nestle have been accused of price fixing by Canada's competition watchdog.

The criminal charges come after a five-year investigation by Canada's Competition Bureau, who said the Canadian arm of Hershey was also expected to confess to fixing prices.

Hershey released a statement expressing regret for its actions and laying the responsibility at the feet of now-departed employees.

Three individuals have also been charged: Robert Leonidas, the former chief executive of Nestle Canada, Sandra Martinez, former Nestle Canada president, and David Glenn Stevens, president and chief executive of national grocery distributor ITWAL Limited.

All three could face up to five years in jail if found guilty. ITWAL has also been charged.

Mars said in a statement it intends to vigorously defend itself against the allegations. Nestle has not commented on the allegations so far.