Familiprix Inc. and Pharmacie Affiliee A Proxim completed the acquisition of 10 drugstores from Metro Inc..
September 28, 2019
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Familiprix Inc. and Pharmacie Affiliee A Proxim entered into an agreement to acquire 10 drugstores from Metro Inc. (TSX:MRU) in fourth quarter ended September 29, 2018. Transaction is subject to Antitrust Regulations. As of February 18, 2019, The Competition Bureau approved the transaction. As on December 20, 2018, the sale of five drug stores was completed in November 2018. The sale of rest five will be completed in first half of January 2019. As of February 18, 2019, The Competition Bureau has approved Familiprix Inc. and Corporation Groupe Pharmessor, an affiliate of McKesson Canada Corporation, as the purchasers of METRO Inc.’s interests relating to 10 retail pharmacies in Quebec. PwC Corporate Finance LLP acted as financial advisor for Metro Inc.
Familiprix Inc. and Pharmacie Affiliee A Proxim completed the acquisition of 10 drugstores from Metro Inc. (TSX:MRU) during financial year ended September 28, 2019.
Metro Inc. is a food and pharmacy retailers and distributors company. The Company, through its activities as a retailer, franchisor or distributor, and manufacturer operates or supplies a network of supermarkets, discount stores and drugstores. It operates 975 food stores under several banners, including Metro, Metro Plus, Super C and Food Basics, as well as 645 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners. The Metro banner, with its 328 stores including 120 Metro Plus stores in Quebec is a supermarket chain. The Super C banner operates 102 discount stores in Quebec and offers a range of grocery products. Food Basics is a discount store providing quality products to customers in 143 locations across Ontario. The Food Basics Pharmacy banner is located in 30 Food Basics grocery stores. Its Food Basics Pharmacy is a full-service pharmacy and offers professional services, such as health reminders and medical profiles, among others.