The deal for Loblaws to buy Shoppers Drug Mart was cooked up just a few days ago by Galen G. Weston. He met with the president of Shoppers, Holger Kluge, in a mini-van on a country road, Mr. Weston told a news conference. Mr. Kluge quipped: “We’ve been dating for quite some time.” Such is the background to this stunning retail acquisition. It is an earthquake in Canadian business. Loblaws will devour Shoppers Drug Mart and form a grocery, pharmacy and personal care giant that can slug it out with any U.S. competitor. “This transformational partnership changes the retail landscape in Canada,” Galen G. Weston, executive chairman of Loblaw, said in the statement. “With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace.” Bloomberg Toronto Star
