Loblaw Companies executive chairman Galen G. Weston announces deal to buy Shoppers Drug Mart.

Grocery giant Loblaw buys Shoppers Drug Mart

Just a month after Safeway deal, more B.C. retail outlets to come under ownership of one parent firm

A $12.4-billion deal by grocery giant Loblaw to snap up Shoppers Drug Mart may further reduce retail competition in B.C.

Officials with the two firms denied that will happen, but the transaction does put another big chunk of B.C.’s retail landscape under the control of a single parent company.

In B.C., Loblaw operates or franchises dozens of stores under the Real Canadian Superstore, Extra Foods, T&T Supermarket and NoFrills brands, among others.

Its acquisition of Shoppers and its smaller urban stores extends Loblaw’s footprint into more densely populated B.C. markets.

Both firms say the deal will yield big benefits, including a bigger national retailing network for the more than 1,200 Shoppers outlets.

Shoppers Drug Mart will keep its brand name and operate as a division of Loblaw, but will expand its product lines, adding Loblaw PC brand private label and convenience food.

Shoppers’ Life brands are likewise expected to show up on the shelves of other Loblaw stores.

Officials promised they won’t close stores or eliminate loyalty points, adding the Shoppers Optimum and PC Plus loyalty programs will be cross-marketed across the group.

Shoppers shares were up more than 24 per cent Monday on the news, while Loblaw stock was also up 5.4 per cent. The market value of the two companies combined is up $3.1 billion from Friday’s close.

The deal still must be approved by shareholders.

It comes one month after a $5.8-billion deal by rival grocer Sobey’s to buy Canada Safeway stores.

Just Posted

Lagoon improvements, but no safety audit recommendations, coming to Harrison

The lagoon will see electrical upgrades, a new flag pole and fencing, but no life jackets or signs

UFV introduces first mindfulness graduate program in Canada

Most of the University of the Fraser Valley program is offered online

All child porn charges against Chilliwack realtor dismissed

Meissner’s computers contained ‘miniscule’ amount of content normally found on offenders’ devices

Mounties hunt for missing Langley man

The public has been asked to help locate David Grainger, last seen on March 19

B.C. Wildfire crews respond to Sts’ailes, Morris Valley fires

A fire at the First Nation and a grass fire in Mission sent smoke across the valley Wednesday

Harrison Hot Springs students bring ‘Twelfth Night’ to life

The adaption of Shakespeare’s classic comedy include songs and phrases from Canada’s east coast

Vancouver Giant named to Western Conference first-tier all-star team

Young hockey defenceman Bowen Byram is once again lauded for his outstanding efforts on the ice

Permit rejected to bring two cheetahs to B.C.

Earl Pfeifer owns two cheetahs, one of which escaped in December 2015

Real-life tsunami threat in Port Alberni prompts evacuation updates

UBC study says some people didn’t recognize the emergency signal

Care providers call for B.C. seniors’ watchdog to step down

The association also asks the province to conduct an audit and review of the mandate of her office

Nitro Cold Brew Coffee from B.C. roaster recalled due to botulism scare

“If you purchased N7 Nitro Cold Brew Coffee from Cherry Hill … do not drink it.”

B.C. man gets award for thwarting theft, sexual assault – all in 10 minutes

Karl Dey helped the VPD take down a violent sex offender

Punching Parkinson’s in the Fraser Valley

Rock Steady Boxing program, designed to help battle symptoms of Parkinson’s, coming to Abbotsford in April

Baby left alone in vehicle in B.C. Walmart parking lot

Williams Lake RCMP issue warning after attending complaint at Walmart Wednesday

Most Read