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HomeAll newsMost read newsBusiness Leaders Biography
Age : 53
Public asset : 136,543,891 USD
Linked companies : Associated British Foods plc
Biography : Mr. George G. Weston is Chief Executive Officer & Executive Director at Associated British Foods Plc

Canadian food cos Loblaw, George Weston issue price fixing response

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12/19/2017 | 11:01pm CET
A sign is pictured outside a Loblaw supermarket in Ottawa

Canadian supermarket chain Loblaw Co (>> Loblaw Companies Ltd) and George Weston (>> George Weston Limited) said on Tuesday they are acting to end anti-competitive actions after discovering and reporting their role in an industry-wide price-fixing arrangement involving some packaged bread products.

Canadian supermarket chain Loblaw Co (>> Loblaw Companies Ltd) and George Weston (>> George Weston Limited) said on Tuesday they are acting to end anti-competitive actions after discovering and reporting their role in an industry-wide price-fixing arrangement involving some packaged bread products.

Shares in the two companies were halted earlier on Tuesday ahead of the release of the joint announcement.

The two companies said that they would ensure price-fixing does not happen again. George Weston owns 48.4 percent of Loblaw.

(Reporting By Nichola Saminather; Editing by David Gregorio)

Stocks treated in this article : Loblaw Companies Ltd, George Weston Limited
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