Coca Cola bottlers raided by EU antitrust regulators, source says

By Foo Yun Chee

BRUSSELS (Reuters) - Coca Cola bottlers were raided by EU antitrust regulators earlier this month, a person with direct knowledge of the matter said.

The European Commission announced the raids on non-alcoholic drinks companies in several EU countries on March 10 but did not name them. It cited concerns about possible curbs on the trade of goods across Europe and carving up markets, both illegal under EU rules against cartels and abuse of market power.

The raids targeted Coca Cola bottlers, the person said, declining to provide details because of the sensitivity of the matter.

The Commission declined to comment.

The Coca Cola Co and bottler Coca Cola HBC in which the former holds a 21% stake, did not respond to repeated emailed requests for comment.

The EU competition enforcer had in 2023 scrapped an investigation into potential anti-competitive practices by The Coca-Cola Co and its bottlers, Coca-Cola Europacific Partners and Coca-Cola Hellenic due to insufficient grounds for the case.

Companies risk fines as much as 10% of their global annual revenues if found guilty of breaching EU antitrust rules.

Bloomberg first reported the raids on Coca Cola's business.

(Reporting by Foo Yun Chee; editing by David Evans)