TORONTO (FNS) -- Loblaw Cos. here, Canada's largest grocer, said last week it plans to strengthen its position with the proposed purchase of Provigo, based in Montreal, for $1.05 billion ($1.62 billion Canadian).
The acquisition would give Loblaw a 32% share of the Canadian market, with annual sales of just over $11 billion -- adding $3.9 billion to Loblaw's total of $7.15 billion.
According to Pierre Michaud, Provigo's chairman, "Quebec's food distribution industry is becoming ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Click here to read the FAQ page if you have any questions (opens in a new window)
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.