Page 21 - Canada Bread News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Canada Bread has agreed to pay $50 million in fine after pleading guilty to having played a role in fixing the price of bread for years. The company revealed in an Ontario Court on Wednesday that it frequently communicated with its competitor under previous managerial regime to raise the wholesale prices in unison, making bread costlier for Canadian consumers in the process. Canada Bread, which owns dozens of brands of baked goods, has been owned by Mexican food giant Grupo Bimbo since 2014. Prior to that, the company was owned by Maple Leaf Foods.

Bakery giant Canada Bread Co. has been fined $50 million after pleading guilty to its role in a criminal price-fixing scheme that inflated the price of bread in Canada for years.

Company agrees to pay a record fine, investigation continues and lawsuits could soon be coming in massive bread price fixing scheme.

Canada Bread pleaded guilty to a role in a scheme to inflate the price of the food staple in Canada.

Canada Bread, a business owned by Mexico-based bakery company Grupo Bimbo, has been fined following a price-fixing probe.