EconoTimes is a fast growing non-partisan source of news and intelligence on global economy and financial markets, providing timely, relevant, and critical insights for market professionals and those who want to make informed investment decisions.
Bega was won the right to use its current trade packaging for its peanut butter products.(Bega Cheese)
In a statement to the market today, Bega Cheese said the companies have entered into a confidential agreement, which in part, involves Kraft Heinz paying Bega $9.25 million. Bega Cheese and Kraft Heinz have now entered into a confidential settlement regarding the issues of monetary relief and legal costs payable in respect of the legal proceedings, Bega said in a statement. As part of the settlement, all outstanding issues between the parties regarding the right to use the peanut butter trade dress and the legal proceedings have been resolved.
Kraft to cough up $9.25m to Bega Cheese (ASX: BGA) over peanut label
Kraft to cough up $9.25m to Bega Cheese (ASX: BGA) over peanut label
Kraft doesn’t want to go nuts from whipping a dead horse so hands over some cash instead.
Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey.
Latest posts by Mitchell Lawler (see all)