Canada Bread agrees to $50M fine for role in bread price-fixing scandal
Canada Bread, the maker of numerous brands of baked goods, including Dempster's, has agreed to pay $50 million for its role in colluding to fix the price of bread, while the company was owned by previous management.
The company made the revelation in an Ontario court on Wednesday, acknowledging that under a previous management regime, it colluded with its competitors in Canada's bakery industry to work in unison to raise the wholesale prices they charge to grocery chains, pushing up prices for consumers in the process.
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