Chicken Of The Sea International Resolves Antitrust Lawsuit With Walmart, Terms Include New Business Agreement With The Retailer
Agreement Reflects the Economic Realities of the Industry and Emphasizes Promoting Category Growth
EL SEGUNDO, Calif., May 22, 2018 /PRNewswire/ -- Chicken of the Sea International, a leading provider of healthy, delicious and responsibly sourced seafood, today announced that it has reached an agreement with Walmart Inc. resolving antitrust claims brought by the retailer. Walmart is the largest retailer for canned tuna in the United States. Under the terms of the multi-pronged agreement, Chicken of the Sea International will pay a cash settlement and the two companies will participate in a series of joint programs and new product promotions in Walmart stores. These activities will include the launch of new innovative products across Walmart stores.
Christianna Reed, vice president and general counsel, legal and risk management, explained, "We are pleased to have reached an agreement with Walmart that includes a series of continuing programs and promotions. The canned tuna industry has been and remains a low-margin business, which is particularly challenging for a player of Chicken of the Sea International's size. The settlement reflects Chicken of the Sea International's status as the first tuna producer to engage the U.S. Department of Justice as a whistleblower in this case. This resolution is a significant achievement for Chicken of the Sea International and the newly appointed leadership team. We look forward to reaching additional pragmatic solutions to resolve the ongoing litigation."
"Our partnerships with retailers are important to the success of our business," said Darren Parsons, vice president, retail sales and business development. "The agreement we reached with Walmart highlights our commitment to achieving successful outcomes with our retail partners. We are confident that with Walmart, we will offer our shared customers the healthy sustainably-sourced seafood products they expect from us. We are also excited about a number of consumer-driven innovations in the pipeline that we will bring to market across all of our retailers."
About Chicken of the Sea International
Tri-Union Seafoods, LLC dba Chicken of the Sea International (COSI) is a leading provider of healthy, delicious and responsibly sourced seafood, offering not only a robust product line but the recipes and meal-planning insights needed to inspire seafood lovers to greater culinary creativity. The company provides tuna, salmon, clams, crab, oysters, shrimp, mackerel, kipper snacks and sardines in cans, cups and pouches as well as innovative new products consistent with seafood's growing status as a healthy "new" protein choice in America.
Headquartered in El Segundo, California, COSI uses responsible fishing practices to source its seafood products from around the world, and packages them at a state-of-the-art processing facility in Lyons, Georgia, as well as at third-party facilities. The company is led by a team of industry veterans with more than 300 years of collective experience in the consumer goods industry.
For information on Chicken of the Sea International, including recipes, serving suggestions and nutritional and meal-planning insights as well as information on the latest new Chicken of the Sea products, go to www.chickenofthesea.com.
Media Contact
Craig Rexroad
Communications Director, North America, Chicken of the Sea International
O + 1 424 397 8610
M + 1 858 699 9063
SOURCE Chicken of the Sea International
Share this article