Loblaw to Buy Shoppers Drug Mart

The Loblaw Cos. Ltd. (Brampton, Ont.) has acquired The Shoppers Drug Mart Corp. (Toronto). The merger of Canada’s largest supermarket chain and its largest pharmacy chain was valued at $11.9 billion in cash and stock.

“This transformational partnership changes the retail landscape in Canada,” said Loblaw executive chairman Galen Weston. “With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace.”

There were no details on how the two retail giants will merge their brands. Loblaw has 1000 corporate and franchise supermarkets around the country, operating under 22 banners. Shoppers Drug Mart has more than 1241 stores operating under the names Shoppers Drug Mart in nine provinces and two territories and Pharmaprix in Quebec.