Canada Bread to pay record $50M fine for bread price-fixing scandal.
Originally Published 2 years ago — by BBC
Canada Bread has agreed to pay CAD50m ($38m) for its role in a price-fixing scheme, the highest such fine ever imposed by a Canadian court. The company pleaded guilty to four counts of price-fixing dating from the mid-2000s. The Competition Bureau called the fine a "significant milestone" in its ongoing investigation. Canada Bread admitted that it arranged with its competitor, Weston Foods, to raise prices for bread products, resulting in two price increases for fresh bread and baked goods, one in 2007 and another in 2011.