Nov 26, 2024
According to a federal anti-trust lawsuit, the four largest producers of frozen potatoes and french fries have supersized their profits over the last few years by gouging American consumers through higher prices that they improperly set by agreement. The Spokesman-Review reports the suit claims that J.R. Simplot Company and Lamb Weston, both based in Idaho, conspired with competitors McCain Foods and Cavendish Farms, both based in Canada, to collude instead of competing for larger shares of the market. Combined, those four companies control about 95% of the frozen potato market. According to the suit, the companies agreed to similar price increases to raise the price of frozen potato products by 47% from 2022 to 2024. Lamb Weston, based in Eagle, earlier this year reported profits 111% higher than 2023 for the first quarter of this year. On behalf of a proposed class of tens of millions of consumers nationwide, the suit seeks to end the “illegal scheme, to recover damages, and to restore competition in the Frozen Potato marketplace.”
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