Sale of Ten Shoppers Drug Mart Stores by Loblaw Approved
October 31st, 2014
The Competition Bureau has approved the sale by Loblaw of ten Shoppers Drug Mart stores, pursuant to the March 2014 Consent Agreement that resolved the Bureau’s concerns about Loblaw’s acquistion of Shoppers Drug Mart. Seven stores will be sold to independent pharmacists operating under the McKesson banner and three will be sold to Pharmasave Drugs (Atlantic) Ltd.
During the merger review process, the Competition Bureau examined the level of retail competition in each market where both a Loblaw-owned grocery store and a Shoppers Drug Mart were present and identified a total of 27 markets where the preservation of competition was a concern. In addition to the ten sales approved today, the Bureau previously approved the sale of 13 Loblaw-owned stores. There are currently four Shoppers Drug Mart stores remaining that must be sold to new owners in accordance with the Consent Agreement.