22:36:10 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 228,328,710
Close 2024-01-11 C$ 68.68
Market Cap C$ 15,681,615,803
Recent Sedar Documents

Globe says Loblaw, Metro hear Rexall may be for sale

2024-01-12 08:40 ET - In the News

See In the News (C-L) Loblaw Companies Ltd

The Globe and Mail reports in its Friday edition that Rexall's American owner is shopping the pharmacy chain to prospective buyers, according to sources, as McKesson reconsiders its Canadian footprint after a 15-year expansion. The Globe's Jameson Berkow and Susan Krashinsky Robertson write that two unnamed sources say McKesson is looking to unload Rexall and has been in contact with prospective buyers. Rexall operates about 400 pharmacies and employs about 8,000 people. McKesson told The Globe it does not comment on rumours or speculation. Although McKesson is exploring a sale, there is no guarantee a deal will be completed. The pool of potential buyers includes rival chains who want to expand their footprints, as well as private equity firms, many of whom are flush with cash. If a sale is completed, McKesson could remain a Rexall partner by supplying the chain through its distribution arm. The chain sells everything from cleaning products to cold and pain medications to baby products, and some rivals have found ways to make their retail divisions quite profitable. Chains such as Loblaw's Shoppers Drug Mart and Metro's Jean Coutu Group have reported strong margins on "front of store" items such as cosmetics.

© 2024 Canjex Publishing Ltd. All rights reserved.