Loblaw Companies Limited completes acquisition of Shoppers Drug Mart Corporation

On March 28, 2014, Loblaw Companies Limited (Loblaw) announced the completion of its acquisition of Shoppers Drug Mart Corporation (Shoppers), which is now a unique and separate operating division of Loblaw.

As outlined in the agreement, signed July 15, 2013, Loblaw acquired all of the outstanding Shoppers common shares for C$33.18 in cash plus 0.5965 Loblaw common shares per each Shoppers common share, representing an aggregate purchase price of approximately C$12.4 billion.

Loblaw is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services.

Weston is one of North America's largest food processing and distribution groups operating in two segments: baking through Weston Foods, and food and general merchandise distribution through Loblaw.

Shoppers Drug Mart is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec).

Further information can be found on Loblaw's and Shoppers' websites.