Canada Bread fined $50M for role in bread price-fixing scandal
The Competition Bureau of Canada says it is the highest price-fixing fine ever imposed by a Canadian court.
It says Canada Bread, a subsidiary of Mexico-based Grupo Bimbo, pleaded guilty to four counts of price-fixing under the Competition Act. The Competition Bureau says the bread maker admitted that it arranged with its competitor, Weston Foods Inc., to increase prices for various bagged and sliced bread products, such as sandwich bread, hotdog buns and rolls.At the time of the price-fixing arrangement, Canada Bread was under the ownership of Maple Leaf Foods, and Grupo Bimbo says it's considering “all legal options against those responsible.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada Bread agrees to $50M fine for role in bread price-fixing scandal | CBC NewsCanada Bread has agreed to pay at least $50 million for its role in fixing the price of bread for years, according to documents filed in an Ontario court.
Read more »
Canada Bread settles years-long price-fixing allegations, to pay $50-million fineGrupo Bimbo\u0027s Canada Bread has settled with the Competition Bureau over its role in the bread price\u002Dfixing scheme. Read on.
Read more »
Government's $50-billion loan program coming due, but many businesses can't payA business group says there is panic among small business owners who fear they can\u0027t afford to repay loans due this year.
Read more »
Government's $50-billion loan program coming due, but many businesses can't payA business group says there is panic among small business owners who fear they can\u0027t afford to repay loans due this year.
Read more »
Government's $50-billion loan program coming due, but many businesses can't payA business group says there is panic among small business owners who fear they can\u0027t afford to repay loans due this year.
Read more »
Panera Bread location in Toronto has permanently closedA Panera Bread bakery-cafe at a high turnover location in Toronto abruptly closed its doors this week, to the dismay of loyal customers who regular...
Read more »