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Loblaw to divest stores

Friday, 21 March 2014 13:58

Two Oxford County locations affected.

BRAMPTON -- Canada's Competition Bureau has approved the Loblaw acquisition of Shopper’s Drug Mart, which is expected to close March 28, 2014.

Galen Weston, Executive Chairman of Loblaw spoke of the approval in a released statement Friday. 

"We are pleased the Competition Bureau has concluded its review of this transaction, and to have its consent to bring these two great Canadian companies together," Weston said "This merger uniquely positions Loblaw to meet the most important consumer trends in the country, including urbanization and health and wellness. In doing so, we will continue to deliver more choice, more value, and more convenience to Canadians."

The approved sale includes two Independent Pharmacy ownership locations in Oxford County to be divested from Loblaw. Two of those locations include Independent Pharmacy locations at 273 King Street West in Ingersoll and it's Zehrs pharmacy location in Tillsonburg.

The agreement with the Competition Bureau will see Loblaw Companies sell 18 stores and nine pharmacy operations across the country, but the supermarket giant says it does not anticipate any store closures as a result of their acquisition and that customers shouldn't notice any changes.

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