PITTSBURGH, Jan. 25, 2019 /PRNewswire/ -- StarKist Co. today announced it has entered into a settlement agreement with Walmart Inc. resolving all antitrust claims brought by the retailer. Walmart is the largest retailer for canned tuna in the United States. The StarKist portion of the settlement is valued at $20.5 million, based on a combination of cash payment and certain favorable commercial terms, which will further strengthen the business relationship between the two companies.
"StarKist is pleased to resolve this matter with our valued customer, Walmart. The resolution is a business-oriented and reasonable one, which sets a benchmark for resolving remaining matters with our other valued customers," said Scott Meece, StarKist's General Counsel & Sr. Vice President.
"StarKist is committed to being a socially responsible company and we are pleased to resolve this lawsuit with our largest customer under fair and reasonable terms," said Andrew Choe, President & CEO, StarKist Co. "We will continue to conduct our business with the utmost transparency and integrity, and we hope to resolve the remaining lawsuits with our other customers under similarly fair and mutually beneficial terms."
About StarKist Co.
StarKist Co. provides trusted, healthy, food products in the United States. An industry innovator, StarKist was the first brand to introduce StarKist single-serve pouch products, which include Tuna Creations®, Salmon Creations® and Chicken Creations™. As America's favorite tuna, StarKist represents a tradition of quality, consumer trust and a commitment to sustainability. StarKist's charismatic brand icon, Charlie® the Tuna, swam into the hearts of tuna fans in 1961 and is still a fan favorite today. StarKist Co. is a subsidiary of the Dongwon Group.
SOURCE StarKist Co.