A PYMNTS Company

Canada: Loblaw feasts on $12B grocery buyout

By  |  July 16, 2013

The Loblaw Companies Limited conglomerate announced plans to merge with pharmacy and grocery store chain Shoppers Drug Mart Corporation in a deal worth nearly $12 billion, according to a press release. Reports say the buyout will allow Loblaw to step into the market of small-urban stores, while Shoppers Drug Mart will continue to operate independently under its own name. The plans remain subject to shareholder and regulatory approval. The deal has not come without resistance, however, as some have speculated what the merger would mean for consumers in Canada, say reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Loblaw

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.