Grupo Bimbo\u0027s Canada Bread has settled with the Competition Bureau over its role in the bread price\u002Dfixing scheme. Read on.
In an agreed statement of facts filed in court, Canada Bread pleaded guilty to four counts involving communications that took place between a former senior officer at Canada Bread and one or more senior executives at Weston in 2007, 2010 and 2011, which led to the two price increases.
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 are not aware of any wrongdoing by Canada Bread or its senior leadership during the time that we were a shareholder,” the statement said. A worker restocks shelves in the bakery and bread aisle at a grocery store in Halifax. Canada Bread has settled allegations it took part in a price-fixing scheme that regulators contend began in 2001 and spanned at least 14 years.In 2015, Loblaw Cos. Ltd. and parent company George Weston Ltd.
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