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Jean Coutu

Shareholders OK sale of Jean Coutu Group

Shareholders OK sale of Jean Coutu Group

MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the sale of the pharmacy chain to fellow Quebec retailer Metro Inc. A near-unanimous 99.9% of votes cast sanctioned the $4.5 billion transaction, which was well above the two-thirds ­requirement. Shareholders of Coutu are being offered a combination of cash and stock worth about $24.50 per

Jean Coutu shareholders OK acquisition by Metro

Jean Coutu shareholders OK acquisition by Metro

MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the planned sale of the pharmacy chain to Quebec food and drug retailer Metro Inc. Jean Coutu said Wednesday that a near-unanimous 99.9% of votes cast sanctioned the $4.5 billion (Canadian) transaction, which was well above the two-thirds ­requirement. Under the Jean Coutu acquisition deal, the

Metro agrees to acquire Jean Coutu Group

Metro agrees to acquire Jean Coutu Group

MONTREAL — The acquisition of the Jean Coutu Group by Metro Inc. will create a $16 billion food and drug retailer with 1,307 stores in Quebec, Ontario and News Brunswick. Metro has agreed to purchase Coutu for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.).

Metro, Jean Coutu strike deal to merge

Metro, Jean Coutu strike deal to merge

MONTREAL — Just days after confirming talks about a potential deal, Metro Inc. and the Jean Coutu Group have agreed to merge. The companies said Monday that Metro plans to acquire Jean Coutu Group for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.). Under the

New Jean Coutu directors include Google Canada exec

New Jean Coutu directors include Google Canada exec

VARENNES, Quebec — Stockholders of the Jean Coutu Group elected two new directors to the company’s board at its annual shareholders meeting. The Canadian pharmacy operator said late Tuesday that Marie-Josée Lamothe and Michael Hanley have joined the board. Lamothe is managing director of branding and managing director for Quebec at Google Canada. She’s also

Jean Coutu breaks ground on new HQ site

LONGUEUIL, Quebec — Jean Coutu Group has begun construction of its new headquarters and distribution center in Varennes, Quebec. The Canadian drug chain broke ground on the 3.4 million-square-foot site Friday in a ceremony attended by chairman Jean Coutu, president and chief executive officer François Coutu, and other company executives, as well as Varennes mayor