Advertisement

Loblaw alerted competition bureau on bread price-fixing immediately, company says

Click to play video: 'Grocery retailers probed over alleged bread price-fixing'
Grocery retailers probed over alleged bread price-fixing
WATCH ABOVE: Grocery retailers probed over alleged bread price-fixing – Nov 1, 2017

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.

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

READ MORE: Are Canadian grocery stores fixing bread prices? Here’s what we know

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.

Story continues below advertisement

READ MORE: Competition Bureau investigating grocers over alleged bread price-fixing 

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.

Sponsored content

AdChoices