Canada Bread has admitted to colluding with Weston Foods to set bread prices; the first plea agreement in the Competition Bureau’s seven-year investigation.

The agreement will also see the country’s biggest producer and distributor of fresh bread and bakery products pay a $50-million fine for co-ordinating price increases in 2007 and 2010-11.

Canada Bread was controlled by Maple Leaf Foods during those times while Weston Foods was a division of George Weston Ltd; the owner of Loblaw Companies.

Both have since been sold to new owners.  The scandal came to light in late 2017 when Loblaw and and parent George Weston admitted to participating in the scheme and received immunity. 

Loblaw offered $25-gift cards to customers as compensation.

Canada Bread has 30-days to pay the fine.