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Industry: Email Alert RSS FeedMetro to buy A&P Canada
Drug Store News, August 22, 2005
MONTREAL -- Canadian food retailer Metro has entered an agreement to buy A&P's Canadian subsidiary, A&P Canada, for C$1.7 billion (US$1.39 billion). A&P currently operates 236 locations, of which 75 feature full-serve in-store pharmacies.
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The deal, which was expected to close mid-month, will give Metro 16 percent market share in Canada and will add to earnings in 2006. It will boost Metro's store count to 579 from 343 and bolster annual sales to C$10.5 billion from C$6.1 billion.
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