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.