Canada Bread received a fine of 50 million dollars after pleading guilty to one of the largest price-fixing scandals in Canadian history.

The fine was issued by the Ontario Superior Court on Wednesday after Canada Bread pleaded guilty to 4 charges related to criminal price fixing under the Competition Act.

Canada Bread admitted that it colluded with its competitor Weston Foods to increase the prices of various packaged and sliced bread products such as sandwich bread, hot dogs, and rolls.

The price fixing led to two price increases, one in 2007 and the other in 2011.

According to the Canadian Competition Bureau, Canada Bread was owned by Maple Leaf Foods at the time of the price fixing.

Grupo Bimbo then acquired Canada Bread in 2014, and the new owner was not aware of the previous price fixing incidents until 2017.

Since then, Canada Bread has shown full and consistent cooperation with the Competition Bureau under Grupo Bimbo's ownership.

Grupo Bimbo confirmed that they are exploring all legal options against those responsible for this case.

It is noteworthy that the 50 million dollar fine is the maximum applicable under the law. However, Canada Bread received the highest fine imposed by a Canadian court for price fixing to date.

It is noteworthy that the guilty plea is the result of an ongoing investigation by the bureau into alleged price fixing among producers to increase wholesale bread prices, as well as alleged price fixing among grocery stores to raise retail prices.

The bureau continues to investigate alleged price fixing by other companies, including Metro Inc., Sobeys Inc., Wal-Mart Canada Corporation, Giant Tiger Stores Limited, and Maple Leaf Foods Inc.