Bimbo sues Maple Leaf Foods

Grupo Bimbo sues Maple Leaf Foods and some senior officers and directors of the company in relation to the sale of Canada Bread to Bimbo in 2014.

In its claim statement filed in the Ontario Superior Court of Justice, Grupo Bimbo seeks more than $2 billion in damages from Maple Leaf Foods and some company officials for alleged fraudulent and negligent misrepresentation during the Canada Bread sale process, or restitution for unjust enrichment.

At the time Canada Bread was sold to Grupo Bimbo, Maple Leaf was the 90 per cent owner, controlled Canada Bread, and led the transaction negotiations and diligence process. Following the sale, in 2017, Canada Bread was the subject of a price-fixing investigation within the commercial bread industry by the Competition Bureau. A subsequent prosecution resulted in Canada Bread paying a fine of $50 million in 2023 and an on-going class action brought against market participants.