EU antitrust regulators raid companies in fragrance sector

EU antitrust regulators on Tuesday raided several companies and an association in the fragrance sector in some European Union countries on concerns of possible collusion in the supply of fragrances and fragrance ingredients in breach of the bloc's rules against cartels.

EU antitrust regulators on Tuesday raided several companies and an association in the fragrance sector in some European Union countries on concerns of possible collusion in the supply of fragrances and fragrance ingredients in breach of the bloc's rules against cartels. The European Commission did not name the companies, the association or the countries in line with its usual policy. It said the fragrances are used in consumer products such as household and personal care products.

"The Commission has concerns that companies and an association in the fragrance industry worldwide may have violated EU antitrust rules that prohibit cartels and restrictive business practices," the EU executive said in a statement. The EU competition enforcer said it had been in contact with the U.S. Department of Justice and competition agencies in Britain and Switzerland and that the raids were conducted in consultation with them.

Companies face fines as much as 10% of their global turnover for violating EU antitrust rules.