Mexico's Bimbo files $1.4 billion lawsuit against Maple Leaf Foods (updated)

Maple Leaf Foods

29/11/2024 14:09

(Adds Maple Leaf Foods reaction)
       Nov 29 (Reuters) - Mexico's Grupo Bimbo  BIMBOA.MX  has
filed a lawsuit against Maple Leaf Foods  MFI.TO  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)
 ((natalia.siniawski@thomsonreuters.com;))