21:46:12 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 231,697,730
Close 2023-06-21 C$ 71.16
Market Cap C$ 16,487,610,467
Recent Sedar Documents

NP says Maple Leaf sees Bimbo price-fixing suit settled

2023-06-22 09:29 ET - In the News

See In the News (C-MFI) Maple Leaf Foods Inc

The National Post reports in its Thursday, June 22, edition that a key player in a bread price-fixing scandal has settled with the Competition Bureau over its role in co-ordinated price increases. The Post's Barbara Shecter writes that Grupo Bimbo, which bought control of Canada Bread from Maple Leaf Foods in 2014, will pay a $50-million fine to settle allegations Canada Bread took part in a price-fixing scheme that regulators contend began in 2001 and spanned at least 14 years. The Competition Bureau is understood to be continuing its multiyear investigation into a number of companies -- including Maple Leaf Foods, some executives had overlapping executive and board duties at Canada Bread before it was sold to Bimbo. The settlement fine Bimbo agreed to pay relates to two wholesale price increases implemented by Weston Foods and Canada Bread "more than a decade ago, when Canada Bread was majority owned and controlled by Maple Leaf Foods." Canada Bread has 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.

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