German brewers found guilty of price fixing

We all like our beer and more than that we like it cheap, I don’t like to break the bank when I head to my local watering hole and i’m sure you don’t as well, so its sad to find out that some German breweries have been conspiring to fix prices for almost 20 years now.

We have been hearing about this German cartel for a long time and the details were officially released recently. This recent leak reveals just how ambitious the brewers were in their price fixing. According to the federal courts leading German brewery conglomerates have been illegally colluding on prices for nearly two decades.

During a Jan. 31, 2013 interrogation, head of the Veltins brewery, Volker Kuhl, told investigators that premium beer brands had agreed to raise prices via telephone or on the sidelines of industry meetings. They subsequently passed this information on to smaller producers. “Then it often came to a branch-wide beer price increase,” he said.

The Bitburger Brewery Group, which produces the beer that is an official sponsor of the Bundesliga, Germany’s national soccer league, apparently revealed similar revelations in the investigation, as did leaders of the brewery association in the country’s most populous state, North Rhine-Westphalia.

This was a startling revelation for the investigators as they had previously only thought the brewers had tried to do this for the years of 2006 and 2008, this news has the potential to bring into the whole german brewing industry into disrepute and all because a few men got greedy.

The companies involved now face fines in the hundreds of millions of euros.

What do you all think of this new revelation?

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