Loblaw Sells 10 More Shoppers Drug Mart Locations

Loblaw Cos. Ltd. has agreed to sell off 10 Shoppers Drug Mart locations to satisfy concerns from regulators about the grocery and retail giant’s market power.

The sale partially fulfills a condition of Loblaw’s purchase of Shoppers Drug Mart for a $12.4-billion last year, a mega-merger that has combined the country’s largest grocery chain with Canada’s biggest pharmacy business.

As part of its review, the Competition Bureau highlighted 27 cities and towns across the country where Loblaw and Shoppers were multiple locations were concentrated, raising the spectre that the reduced competition would fan prices upward.

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