When did Loblaws take over Shoppers Drug Mart?

When did Loblaws take over Shoppers Drug Mart?

March 28, 2014
BRAMPTON, ON, March 28, 2014 /CNW/ – Loblaw Companies Limited (TSX: L) (“Loblaw”) today announced that it has completed its acquisition of Shoppers Drug Mart Corporation (“Shoppers Drug Mart”), which is now a unique and separate operating division of Loblaw.

What grocery stores are owned by Loblaws?

Loblaws, Zehrs, Your Independent Grocer, Provigo, Atlantic Superstore, Fortinos, Dominion, Independent City Market, Freshmart, Valu-mart, ARZ Fine Foods, Real Canadian Wholesale Club, T Supermarket, Real Canadian Liquorstore, Real Canadian Superstore, No Frills, Maxi, Extra Foods, Pharmaprix and Shoppers Drug Mart.

Is Loblaws a monopoly?

Loblaws does not have a Monopoly although it does run Maxi’s and several other chains with different names. IGA, Walmart not to mention independent grocery stores and other chains all operate and compete in Canada.

Who owned Shoppers Drug Mart before Loblaws?

In March 2014, George Weston Ltd. acquired Shoppers Drug Mart for $12.4 billion and delisted it from the TSX. Shoppers became a separate division of Loblaw and began to stock President’s Choice and No Name products alongside its Life brand items, as well as more fresh foods in select stores.

Is Longos part of Loblaws?

1 Loblaw. Empire CEO Michael Medline said Longo’s will be managed separately and that Empire will not “change or spoil” the specialty grocer. Under the deal, Longo’s and Grocery Gateway will continue to be led by CEO Anthony Longo.

Did Loblaw buy Shoppers Drug Mart?

In July, it was announced that Loblaw Companies Ltd. would acquire Shoppers Drug Mart Corporation for $12.4 billion. This deal was announced only one month after Sobeys’ parent company, Empire Company Limited reached a deal to buy 213 Safeway grocery stores in Western Canada for $5.8 billion.

What does the Loblaw-shoppers merger mean for shoppers?

The Loblaw-Shoppers merger is being touted as a win for both firms as it provides Loblaw Companies with a best-in-class retail pharmacy business and Shoppers can expand its product variety to include Loblaw’s private label and convenience food.

How long will it take to complete the Shoppers Drug Mart acquisition?

Loblaw and Shoppers Drug Mart anticipate that the transaction will be completed within six to seven months. Further information regarding the transaction will be included in the management proxy circular expected to be mailed to Shoppers Drug Mart shareholders in August.

Who is Shoppers Drug Mart Corporation?

Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec).