Loblaw and George Weston

Loblaw Cos. Ltd. and its parent company, George Weston Ltd., have reached a $500 million settlement regarding their involvement in a decade-long bread price-fixing scheme that allegedly inflated prices from 2001 to 2015. The settlement includes $404 million in cash, with George Weston contributing $247.5 million and Loblaw paying $156.5 million along with credit for $96 million already compensated to customers. Loblaw chairman Galen Weston apologized for the behavior, stating it did not align with the company's values and that the settlement was a necessary step towards accountability. The case, which involved several other retailers, is said to be the largest antitrust settlement in Canadian history and aims to address consumer harm caused by the price-fixing conspiracy. Both companies self-reported the issue to the Competition Bureau in 2015, leading to an overhaul of their pricing practices and compliance programs. The settlement is still subject to court approval.