The ruling is in and Canada Bread Company Ltd has been fined $50 million for its role in a price-fixing arrangement that raised the wholesale price of fresh commercial bread.
The Competition Bureau of Canada says it's the highest price-fixing fine imposed by a Canadian court.
Canada Bread pleaded guilty to four counts of price-fixing under the Competition Act.
The company admitted that it arranged with its competitor, Weston Foods (Canada) Inc., to increase prices for various bagged and sliced bread products, such as sandwich bread, hot dog buns, and rolls.
The price-fixing resulted in two price increases, one in 2007 and one in 2011.
At the time of the price-fixing, Canada Bread was under the ownership of Maple Leaf Foods - the senior leadership responsible for the price-fixing is no longer with the company.
The Commissioner of Competition Matthew Boswells says fixing the price of bread - a food staple of Canadian households - was a serious criminal offence.
"Our continuing investigation remains a top priority. We are doing everything in our power to pursue those who engage in price-fixing."
The Competition Bureau is investigating alleged price-fixing between producers to raise wholesale bread prices, as well as alleged price-fixing between grocery stores to raise retail prices.
The Bureau says investigations continue into alleged price-fixing by other companies, including Metro Inc., Sobeys Inc., Wal-Mart Canada Corporation, Giant Tiger Stores Limited, and Maple Leaf Foods Inc.