Toronto (March 28, 2014) — The acquisition by Loblaw Companies Limited (Loblaw) of Shoppers Drug Mart for $12.4 billion in cash and stock closed today, bringing together two iconic Canadian brands and harnessing the complementary strengths of the nation’s number-one grocery retailer and the number-one pharmacy and beauty retailer.

Borden Ladner Gervais LLP represented Loblaw in this acquisition with respect to competition matters, with a team led by partner Rob Russell, assisted by associates Denes Rothschild, Zirjan Derwa, Neil Morgan and Jonathan Asselstine.

“This is a historic deal that will allow Canada’s largest network of grocery stores to better compete with new market entrants and existing competitors from south of the border,” said Rob Russell, National Chair of BLG’s Competition and Foreign Investment Review Group. “At the same time, the unique structure of this deal may be game-changing for the industry as a whole.”

Loblaw is Canada’s largest food retailer and a leading provider of general merchandise and financial products and services, with more than 1,000 corporate and franchised stores from coast to coast.

Shoppers Drug Mart is one of the most recognized and trusted names in Canadian retailing (operating under the name Pharmaprix in Québec). With more than 1,250 Shoppers Drug Mart and Pharmaprixstores, the company is Canada’s number one pharmacy and beauty retailer.

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Amanda McWhirter
Borden Ladner Gervais LLP