Mexico’s Bimbo files $1.4 billion lawsuit against Maple Leaf Foods
10:09 am Friday, November 29th, 2024
(Reuters) -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 ($1.43 billion) 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.
($1 = 1.3997 Canadian dollars)
(Reporting by Natalia Siniawski; Editing by Gabriel Araujo and Brendan O’Boyle)
