Loblaw has admitted to price fixing of bread products in the past, and it looking to enusre it never happens again.
The Competition Bureau previously announced an investigation, and it found that Loblaw and Weston Bakeries were involved in the coordination of increasing retail and wholesale prices of certain bread products over a period from 2001 to 2015.
The investigation also found that other major grocery retailers and another bread wholesaler participated.
Loblaw is also offering affected customers a 25 dollar gift card that can be used to purchase items in their stores across Canada. This offer will start on January 8th. Customers can visit the company website, and register. If they are eligible, they will receive a card. The deadline for registration is May 8.
Loblaw estimates that this initiative will cost between $75 and $150 million.
As a result of their admission, they will not face criminal charges or penalties.
For more information, visit www.loblawcard.ca
