Grupo Bimbo\u0027s Canada Bread has settled with the Competition Bureau over its role in the bread price\u002Dfixing scheme. Read on.
The Mexican company said the fine it agreed to pay in the settlement, overseen by the Ontario Superior Court, relates to two wholesale price increases implemented by Weston Foods and Canada Bread “more than a decade ago, when Canada Bread was majority owned and controlled by Maple Leaf Foods.”
In a separate statement on June 21, 2023, the Competition Bureau said Canada Bread was entitled to leniency in exchange for co-operation and the guilty plea but was handed the maximum penalty available under the law minus a “leniency discount.”“Fixing the price of bread — a food staple of Canadian households — was a serious criminal offence. Our continuing investigation remains a top priority,” said Commissioner of Competition Matthew Boswell.
“We have acted ethically and lawfully at all times. We are not aware of and have never engaged in inappropriate or anti-competitive activity, and we will defend ourselves vigorously against any allegation to the contrary.”
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