SOBEYS CEO SLAMS RIVAL OVER IMPLICATION IN BREAD PRICE-FIXING SCANDAL

Dec 22, 2017

By Jane Brown

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The bread price fixing scandal is expanding to the top.

The CEO of Sobeys is slamming rival Galen G. Weston as an industry feud over bread price-fixing claims boils over at the highest level.

Michael Medline, who leads Sobeys and its parent company, is calling on the executive chair of Loblaw and George Weston to retract recent statements that he says dragged Sobeys into the scandal.

A letter to Weston published in the Globe and Mail reads:

“[We] were shocked and outraged by the reckless nature of your assertions … surrounding your admission of wrongdoing (for over a decade) concerning commercial bread pricing,” .

“Your written and spoken words of December 19 can only be construed as a deliberate attempt to damage the reputation of Sobeys and, perhaps, other retailers. We formally ask you to publicly and immediately retract your assertion that Sobeys conducted itself in the same manner as Loblaw and Weston and your allegations that, at this time, there is proof of participation by Sobeys in a price-fixing arrangement.”

Loblaw did not immediately respond to a request for a comment on Medline’s letter.

Loblaw and George Weston sent shockwaves across the food industry on Tuesday when they admitted to a 14-year price fixing scheme that drove up the price of bread for Canadian consumers. In their admission, they said it was an “industry-wide price-fixing arrangement”. Sobeys was not mentioned by name.

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