The Coca-Cola Co. has agreed to change sales practices that helped it win roughly half of the soft drink market in Europe as part of a settlement of a long-running antitrust investigation by the European Union

Food & Drink Weekly, Oct 25, 2004

The Coca-Cola Co. has agreed to change sales practices that helped it win roughly half of the soft drink market in Europe as part of a settlement of a long-running antitrust investigation by the European Union. Coke's biggest rival, PepsiCo Inc., applauded the deal, which was aimed at creating more competition in the $21 billion European soft drink market.

EU Competition Commissioner Mario Monti said that commitments presented personally by Coca-Cola chief executive Neville Isdell in Brussels were "sufficient for a settlement decision, which will close a five-year probe." The changes include an end to exclusivity arrangements with stores or restaurants, and allowing rival drinks into Coke-branded coolers. The aim, Monti said, is to let consumers choose what to buy "on the basis of price and personal preferences, rather than pick up a Coca-Cola product because it's the only one on offer." The deal allows Atlanta-based Coke to avoid a fine and potentially years of continued legal wrangling. It would likely take effect in spring, after being translated and published in the EU's Official Journal for a formal consultation period.