Official court records or regulatory agency announcements

Loblaw, George Weston to Pay $500M to Settle 14-Year Bread Price-Fixing Lawsuit

Jul 25, 2024, 02:45 PM

Loblaw Cos. Ltd. and its parent company, George Weston Ltd., have agreed to pay $500 million to settle a class-action lawsuit regarding their involvement in a 14-year bread price-fixing scheme. This settlement marks a record antitrust resolution in Canada. The lawsuit accused the companies of artificially inflating the price of bread over a 14-year period. CEO Galen Weston issued an apology, stating, 'This should have never happened.'