Loblaw Companies Ltd., a company controlled by the family business George Weston Ltd., invests in telemedicine!
Loblaw Companies Ltd. is Canada’s largest food retailer operating 22 regional supermarket banners including Loblaws, Maxi and Provigo, drugstores, financial services, and a food and clothing brand. Founded in 1919 in Toronto, the company was, in 1947, controlled by the family business George Weston Ltd., which acquired a majority stake. Under the control of the Weston family, the company adopted a strategy of rapid growth through several mergers and acquisitions which led to its IPO in 1956. In 2006, Galen Weston Jr. took the reins of Loblaw Companies Ltd. Under his leadership, the company continues to grow, this time in the pharmaceutical sector, through the acquisition of a network of Pharmaprix and Shoppers Drug Mart drugstores, then, most recently, by the purchase of a minority stake in the telemedicine company Maple. Since 2017, Galen Weston Jr., succeeding his father, has held the position of CEO of George Weston Ltd. He now holds the role of Executive Chairman of Loblaw Companies Ltd.
Read the news: ‘Loblaw investing $75 million for minority stake in telemedicine firm Maple’
