Mexico’s Bimbo files $1.4 billion lawsuit against Maple Leaf Foods

Mexico’s Grupo Bimbo has filed a lawsuit against Maple Leaf Foods and former senior executives of the Canadian company, it said on Friday, seeking more than 2 billion Canadian dollars in damages.

The lawsuit is related to the 2014 sale of then Maple Leaf-controlled Canada Bread Company to Bimbo, the Mexican firm said in a statement, citing “fraudulent and negligent misrepresentation” during the sale process.

Maple Leaf Foods’ executive chair Michael McCain dismissed the claims as “ridiculous,” accusing Bimbo of using the lawsuit to divert attention from its own mismanagement of the business.

— Reporting by Natalia Siniawski