DOCUMENTS ALLEGE 7 COMPANIES INVOLVED IN BREAD-PRICE FIXING

Jan 31, 2018

By Bob Komsic

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Senior officials with Canada’s two biggest bread wholesalers communicated with each other to raise bread prices, then met with five retailers, who agreed to play along.
Those allegations, from the federal Competition Bureau, are contained in newly released court documents.
(Rick Madonik/ Toronto Star)
The competition watchdog believes Canada Bread Company and George Weston Ltd., along with Loblaw, Metro, Sobeys, Walmart and Giant Tiger Stores committed indictable offences under the Competition Act.
The document claim wholesalers Canada Bread Company and George Weston agreed to hike prices, typically by seven cents, for more than a decade starting in 2001.
It’s alleged the fix, became known as the 7/10 convention, and usually involved a seven-cent price hike at wholesale and 10-cent jump in stores.
Last month, Loblaw and George West admitted they approached the watchdog and received immunity in return for their co-operation.
”We have admitted our role, and you cannot price fix alone,” said Loblaw spokesperson Kevin Groh.
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