Bread cartel: Loblaw will give $500 million to people who were cheated

Loblaws and its principal shareholder, George Weston, will pay $500 million to settle a class action lawsuit the company was facing in connection with a bread cartel. The people behind the lawsuit accused the country's major food chains of colluding on the price of bread to increase their profit margins. In an interview with Radio-Canada's Tout un matin, agronomist and economist Pascal Thériault, Director of McGill University's Farm Management and Technology Program, looks back at the saga.

“The terms of payment have not yet been determined," Thériault said. He points out that this amount is very modest for a company like Loblaws: the bread cartel would have generated $5 billion with this strategy.

“Our big grocers lacked transparency."