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The Rise of the French Fry Cartel
After decades of consolidation, just four firms now control at least 97 percent of the $68 billion frozen potato market. A new spate of antitrust lawsuits accuses them of brazen price-fixing.
Even niche markets like almond milk and microwave popcorn are increasingly controlled by just a few firms, driving higher prices for consumers and uncertainty for farmers and suppliers — and helping to fund lucrative stock buyback programs and payouts for executives and top shareholders. Since last month, more than a dozen coordinated private class action lawsuits have been filed on behalf of restaurants, grocery stores, and food distributors around the country, all of which claim that price-fixing by the four french fry behemoths has hurt their bottom lines. Sarah Carden, research and policy development director at Farm Action, a watchdog group that advocates against consolidation in the food system, agreed that the frozen potato industry was “a more extreme example” of market concentration — but it’s hardly alone.
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