Friday, November 29, 2024

Grupo Bimbo sues Michael McCain


 

Grupo Bimbo of Mexico has filed a lawsuit against Maple Leaf Foods Inc. and its executives including former president and chief executive officer Michael McCain.


The court documents show that Grupo Bimbo wants more than $2 billion in damages arising from a federal competition bureau investigation of price-fixing of bread and rolls from 2001 to 2015.


The papers were filed in the Ontario Court of Justice on Thursday.


Days earlier Maple Leaf filed a defamation lawsuit against Canada Bread and Grupo Bimbo. It seeks $200 million in damages plus legal costs.


Grupo Bimbo claims McCain and Maple Leaf hid information about the price-fixing and competition bureau investigation when it paid $1.83 billion in 2014 to buy Canada Bread.


It said the first it learned of the alleged conspiracy is when the competition bureau executed search warrants in October, 2017.