Canada Bread has agreed to pay $50 million after admitting to colluding with competitors in Canada’s bakery industry to fix bread prices.
“Fixing the price of bread—a food staple of Canadian households—was a serious criminal offence,” said Commissioner of Competition Matthew Boswell in a June 21 release. “Our continuing investigation remains a top priority. We are doing everything in our power to pursue those who engage in price-fixing.”
Canada Bread revealed in an Ontario court on June 21 that an executive at the company discussed the prices of bread products with senior executives at Weston Foods, at that time a subsidiary of George Weston Ltd., the parent company of grocery chain Loblaws….