Competition Bureau Investigation into Bread Price-Fixing
Dec 20, 2017, 08:47 ET
STELLARTON, NS, Dec. 20, 2017 /CNW/ - Court filings in the ongoing investigation by the Competition Bureau into price-fixing of commercial bread products between 2001 and 2015 were made available to Sobeys yesterday.
These are the documents prepared by the Competition Bureau to obtain the search warrants that were widely reported in the media on October 31, 2017.
This is the first time Sobeys has been provided any substantive information by the Competition Bureau relative to its ongoing investigation.
At this time, Sobeys does not believe that it or any of its employees have violated the Competition Act. Any assertion of an industry-wide price-fixing arrangement has not been proven.
Sobeys has always taken its compliance obligations seriously.
Sobeys will continue to fully cooperate with the Competition Bureau as it continues its investigation.
About Sobeys Inc.
Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians since 1907. A wholly-owned subsidiary of Empire Company Limited (TSX: EMP.A), Sobeys owns or franchises approximately 1,500 stores in all 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton's Drug Stores as well as more than 350 retail fuel locations. Sobeys, its franchisees and affiliates employ more than 125,000 people. The company's purpose is to help Canadians Eat Better, Feel Better and Do Better. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.
SOURCE Sobeys Inc.
For further information: Media Contact: Cynthia Thompson, Vice President, Communications & Corporate Affairs, Sobeys Inc., (902) 752-8371 ext. 8455, [email protected]; Investor Contact: Katie Brine, Director, Investor Relations, Sobeys Inc., (905) 238-7124 ext. 2092, [email protected]
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