Cargill settled a lawsuit with McDonald’s alleging price-fixing claims against the beef supplier.
“We are pleased to put this matter behind us on terms that strengthen and grow our partnership with McDonald’s,” said Pete Richter, chief customer officer of Cargill, in a joint company statement.
Other lawsuits against Cargill remain, alleging similar price-fixing complaints.
“We stand by our conduct and we will continue to aggressively defend against those claims,” said Richter. Last October, McDonald’s filed suit against several beef suppliers, including Cargill, JBS S.A., National Beef Packing Co. and Tyson Foods.
The fast-food chain giant said the companies colluded to reduce beef supply to inflate prices from 2015 to 2024.
