Brasília, August 6, 2025 — Brazil’s Administrative Council for Economic Defense (CADE) has approved a settlement with Cooperativa de Produção e Abastecimento do Vale do Itajaí (Cooper), imposing a fine of R$388,169.33 (approximately USD $71,000) for engaging in gun jumping — the early consummation of a merger without CADE’s authorisation.
The case stems from an anonymous tip received in April 2024, alerting Cade to a possible unnotified acquisition by Cooper of Comércio Três Irmãos Ltda., a supermarket chain in Santa Catarina.
Following an inquiry by Cade’s investigative branch, the Superintendence General (SG/Cade), Cooper acknowledged that it had finalized the deal prematurely and voluntarily submitted a notification to the authority in December 2024.
In June 2025, the cooperative offered a settlement, agreeing to pay the fine into Brazil’s Fundo de Defesa dos Direitos Difusos (FDD), a federal fund that supports public interest projects.
The settlement was formally approved on Wednesday, August 6, by Cade’s Administrative Tribunal. The vote, led by Reporting Commissioner Gustavo Augusto, passed unanimously.
Gun jumping is considered a serious breach of Brazil’s competition laws, as it can undermine the regulatory review process designed to prevent anticompetitive market concentrations.
