As part of the Competition Bureau’s conditions for Loblaw’s purchase of Shoppers Drug Mart, Loblaw agreed to sell 18 stores and nine pharmacies to independent operators.
Loblaw has begun to fulfill that requirement by selling two No Frills stores, located in Blenheim and Elmira, Ontario to Metro. It has also sold two Shoppers Drug Mart stores in Dalhousie and St. Stephen, New Brunswick to Quebec’s Jean Coutu Group.
The company has also licensed out nine pharmacies in Newfoundland and Ontario Loblaw stores to Remedy’s Rx.
The Shoppers Drug Mart takeover was announced one year ago, although Loblaw is still tasked with finding buyers for 14 more of its stores to satisfy the condition set out by the Competition Bureau before approving the sale.
