McKesson Canada reaches deal to buy Uniprix

MONTREAL — After a failed bid in 2009, McKesson Canada has reached a deal to acquire Groupe Uniprix’s 330 pharmacies.

The value of the transaction announced Wednesday was not made public.

The agreement must still be ratified by Uniprix’s pharmacy owners at a May 16 vote as well as by the Competition Bureau of Canada.

Montreal-based McKesson Canada, a subsidiary of U.S.-based McKesson, already owns 275 Proxim pharmacies. If the acquisition goes through, it will have more outlets in Quebec than Groupe Jean Coutu (TSX:PJC.CA), which has 382.

Uniprix chief executive officer Philippe Duval said the chain, which has estimated annual sales of just more than $1.6 billion, is not in a precarious financial situation.

The transaction, he noted, is a matter of “long-term profitability” and will allow Uniprix to benefit from McKesson’s expertise in various areas, including the development of applications.

The Uniprix pharmacies will be run independently, the company will keep its Montreal head office and there will be no job cuts, said McKesson Canada president Paula Keays.

“We will continue to operate Uniprix the same way,” she said.

“It’s an important trademark for us.”

McKesson withdrew an offer for Uniprix in 2009 after Uniprix’s independent pharmacists voted against the deal.

Just Posted

Huge RV resort proposed for Buffalo Lake

Some residents feel 800-lot RV resort too big for area

Updated: Red Deer gets WHL Bantam Draft and Awards Banquet

WHL will holds its draft and awards ceremony in Red Deer for next three years

Land wanted for Central Alberta Foodgrains project

23rd year for Lacombe area charity

Stolen vehicle found thanks to tip from motorist

Charges laid against Red Deer man and Leduc County woman

City prepares for legal marijuana

Legalized recreational marijuana expected to have impact on many city policies

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Greyhound cleared to end routes in northern B.C., Vancouver Island

Company says nine routes have dropped 30% in ridership in last five years

Evangelist Billy Graham, who reached millions, dies at 99

MONTREAT, N.C. — The Rev. Billy Graham, who transformed American religious life… Continue reading

Amid a flood of plastic, big companies see opportunity

LONDON — Public awareness of the problem of plastic waste is swelling… Continue reading

Ambulance’s slow response time angers family

Woman suffers stroke, waits nearly an hour for ambulance

Over-burdened refugee tribunal ditches legislated timelines for hearings

OTTAWA — The Immigration and Refugee Board is giving up on following… Continue reading

Sheraton Celebrity Dance Off profile: Troy Gillard

** Sheraton Celebrity Dance Off takes place on April 14 at the Sheraton Red Deer

New mobile paramedic program starts in Red Deer

Paramedics provide on-site care to those with chronic conditions

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month