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Loblaw to divest 18 stores in Shoppers deal

Loblaw Cos. has agreed to sell 18 stores and nine pharmacies within existing stores to meet approval of its pending acquisition of Shoppers Drug Mart.


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A consent agreement from Canada’s Competition Bureau also includes restrictions on certain Loblaw programs and agreements on the supply of products for retail sale lasting as long as five years from the date of closing the proposed transaction.

“This agreement addresses the most significant negative competitive effects of the merger by ensuring that consumers continue to benefit from competitive prices in the retail sale of drugstore and pharmacy products in Canada,” John Pecman, commissioner of competition, said in a statement. “The Bureau will continue to investigate Loblaw’s programs related to its relationship with suppliers to ensure that Canadian consumers benefit from vigorous competition.”

Stores to be divested in the deal include 14 Shoppers Drug Mart stores, three No Frills stores and a Save-Easy location. Nine of the divested stores and seven of the in-store pharmacies to be divested are located in Ontario. The $ 12.4 billion (Canadian) deal is expected to close this Friday, Loblaw said.

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Loblaw to divest 18 stores in Shoppers deal

Loblaw Cos. has agreed to sell 18 stores and nine pharmacies within existing stores to meet approval of its pending acquisition of Shoppers Drug Mart.


CONNECT WITH SN ON TWITTER

Follow @SN_News for updates throughout the day.


A consent agreement from Canada’s Competition Bureau also includes restrictions on certain Loblaw programs and agreements on the supply of products for retail sale lasting as long as five years from the date of closing the proposed transaction.

“This agreement addresses the most significant negative competitive effects of the merger by ensuring that consumers continue to benefit from competitive prices in the retail sale of drugstore and pharmacy products in Canada,” John Pecman, commissioner of competition, said in a statement. “The Bureau will continue to investigate Loblaw’s programs related to its relationship with suppliers to ensure that Canadian consumers benefit from vigorous competition.”

Stores to be divested in the deal include 14 Shoppers Drug Mart stores, three No Frills stores and a Save-Easy location. Nine of the divested stores and seven of the in-store pharmacies to be divested are located in Ontario. The $ 12.4 billion (Canadian) deal is expected to close this Friday, Loblaw said.

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Loblaw to divest 18 stores in Shoppers deal

Loblaw Cos. has agreed to sell 18 stores and nine pharmacies within existing stores to meet approval of its pending acquisition of Shoppers Drug Mart.


CONNECT WITH SN ON TWITTER

Follow @SN_News for updates throughout the day.


A consent agreement from Canada’s Competition Bureau also includes restrictions on certain Loblaw programs and agreements on the supply of products for retail sale lasting as long as five years from the date of closing the proposed transaction.

“This agreement addresses the most significant negative competitive effects of the merger by ensuring that consumers continue to benefit from competitive prices in the retail sale of drugstore and pharmacy products in Canada,” John Pecman, commissioner of competition, said in a statement. “The Bureau will continue to investigate Loblaw’s programs related to its relationship with suppliers to ensure that Canadian consumers benefit from vigorous competition.”

Stores to be divested in the deal include 14 Shoppers Drug Mart stores, three No Frills stores and a Save-Easy location. Nine of the divested stores and seven of the in-store pharmacies to be divested are located in Ontario. The $ 12.4 billion (Canadian) deal is expected to close this Friday, Loblaw said.

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Sobeys Must Divest 23 Stores: Regulators

OTTAWA, Ontario — Sobeys must sell 23 stores to remedy competition issues related to its acquisition of Safeway Canada, Canada’s Competition Bureau here said Tuesday.


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Sobeys, Stellarton, Nova Scotia, said it was seeking to sell 10 Sobeys stores and 13 Safeway units as part of the agreement. The divestitures would clear the final hurdle hurdle to the $ 5.8 billion deal for Safeway’s 233 stores in Canada, announced by Sobeys and Pleasanton, Calif.-based Safeway in June.

Stores to be divested are located in the provinces of Alberta, British Columbia, Saskatchewan and Manitoba, and include five in Winnipeg and four in Edmonton.

Read more: Sobeys Sale-Leaseback Funds Safeway Buy

“I am confident this agreement will ensure that Canadian consumers continue to benefit from competitive prices for a wide selection of grocery products,” John Pecman, commissioner of competition, said in a statement. “I commend the parties for their stellar cooperation with the Bureau throughout our review of the proposed transaction.”

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Belle Foods Seeks to Divest All Stores

BIRMINGHAM, Ala. — Belle Foods, which filed for bankruptcy protection early in July, said last week that it would look to sell all of its remaining 44 stores as part of an agreement with its largest creditor, supplier C&S Wholesale Grocers. Belle, which operated 57 stores when it filed for Chapter 11 protection July 1, previously received approval to close 13 stores, and last week sought approval to sell another 12. The motion to sell all of its stores comes as part of a …

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