Loblaw alerted competition bureau on bread price-fixing immediately, company says
TORONTO — Bakery owner George Weston Ltd. says it and grocer Loblaw Companies Ltd. alerted the Competition Bureau immediately after discovering a more than decade-long bread price-fixing arrangement in March 2015.
The companies say in a joint statement that they became aware of an arrangement involving the co-ordination of retail and wholesale prices of some packaged breads from late 2001 to March 2015.
They say the participants regularly increased prices on a co-ordinated basis, and participants included both companies, as well as other major grocery retailers and another bread wholesaler.
The statement says the employees responsible for Weston Bakeries and Loblaw’s role in the arrangement are no longer employed by the companies and that they have beefed up compliance programs.
Loblaw is offering eligible customers who register online at LoblawCard.ca before May a $25 gift card that can be used at its grocery stores across Canada.
The added disclosure came after sealed court filings into the matter were made available to the companies and other affected parties for review.
© 2017 The Canadian Press