Grupo Bimbo filed a claim against Maple Leaf Foods and some of its former senior officers, seeking over CAD 2 billion (EUR 1,34 billion) in damages for alleged fraudulent and negligent misrepresentation during the Canada Bread sale process, or restitution for unjust enrichment.

The claim is related to Bimbo’s acquisition of Canada Bread, in 2014. At that time Maple Leaf owned 90% of Canada Bread and led the transaction negotiations and diligence process.

Three years after the sale, Canada Bread was the subject of a price-fixing investigation by the Canadian Competition Bureau. It was later prosecuted and fined CAD 50 million in 2023.

Related stories:

Canada Bread fined for fixing bread prices

Photo: Adobe Stock