MONTREAL — François Coutu will retire as president of the Jean Coutu Group on May 31, parent company Metro Inc. announced Wednesday. He will be succeeded by Alain Champagne, a former president of McKesson Canada. François Coutu François Coutu had two stints as president and chief executive officer of the group, from 2002 to 2005,
MONTREAL — Metro Inc. has wrapped up financing for its $4.5 billion (Canadian) deal to acquire the Jean Coutu Group. The Canadian food and drug retailer updated the status of the Jean Coutu acquisition on Tuesday in reporting its fiscal 2018 first-quarter results. Metro said sales rose 4.7% year over year to $3.11 billion, while
MONTREAL — Just days after confirming talks about a potential deal, Metro Inc. and the Jean Coutu Group have agreed to merge. The acquisition of Coutu by Metro Inc. will establish a $16 billion food and drug retailer with 1,307 stores in Quebec, Ontario and New Brunswick. Metro has agreed to purchase Coutu for $24.50
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
MONTREAL — The Jean Coutu Group is in advanced negotiations for a potential acquisition by food and drug retailer Metro Inc. Jean Coutu and Metro confirmed the discussions noontime on Wednesday after the Investment Industry Regulatory Organization of Canada (IIROC) said in the morning that trading of shares for both companies had been halted. Under
VARENNES, Quebec — Jean Coutu Group saw retail and corporate sales climb for the fourth quarter and full year of fiscal 2017. Adjusted earnings per share also were in line with analysts’ expectations, with year-end EPS topping the consensus estimate. Jean Coutu Group said Thursday that for the 14-week fourth quarter ended March 4, revenue
VARENNES, Quebec — Sales gains in the front end helped lift revenue for the Jean Coutu Group retail store network in the company’s fiscal 2017 first quarter. Jean Coutu said Tuesday that for the first quarter ended May 28, sales for its franchise store network edged up 1.5% to nearly $1.079 billion (Canadian) from about