Martineau Walker has been retained by The Jean Coutu Group Inc. with respect to the potential acquisition of Shoppers Drug Mart. Shoppers is the largest drug store group in Canada operating a network of 825 stores with total system sales for 1998 of approximately Cdn.$4.2 billion. Should the acquisition proceed, the new entity will be the sixth largest drug store chain in North America with sales of over Cdn.$7 billion.
Martineau Walker’s team is comprised of Yvon Martineau, Peter Villani, Frédéric Despars and Claude Gendron. The purchase price has been estimated at $2 billion plus.