WMT Walmart Inc

By Maria Armental 

StarKist Co. has reached a settlement to resolve antitrust complaints from a group of retailers including Kroger Co., the latest such resolution following its admission that it conspired with other companies to raise prices on canned tuna.

Financial terms weren't disclosed.

The Pittsburgh-based company, a subsidiary of South Korea's Dongwon Industries, reached similar settlements with Target Corp. and Walmart Inc.

The Walmart settlement was worth $20.5 million, based on a combination of cash and favorable commercial terms, StarKist said at the time.

The latest agreement includes Kroger and 32 other retailers, StarKist said.

"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," StarKist Chief Executive Andrew Choe said in a statement.

A company representative didn't respond to additional questions.

Kroger, the largest U.S. supermarket chain, was part of a group that sued StarKist and other seafood producers, accusing them of conspiring to raise prices of canned tuna in the U.S. The companies sought compensation for the amount they were overcharged over several years.

Adding to the legal challenges, StarKist and other seafood producers are struggling to connect with consumers who are increasingly favoring fresh or frozen fish over canned products.

The big three tuna companies -- StarKist, Bumble Bee Foods LLC and Chicken of the Sea International -- still command a combined 80% of sales, but the overall industry has shrunk significantly.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

March 15, 2019 15:09 ET (19:09 GMT)

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