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| Type | Public (TSX: MRU.A) |
|---|---|
| Headquarters | Montreal, Quebec, Canada |
| Area served | Ontario, Quebec |
| Industry | Grocery Stores |
| Employees | 37,878 (2008)[1] |
| Website | www.metro.ca |
Metro Inc. (TSX: MRU.A) is a food retailer operating in the Canadian provinces of Quebec and Ontario. The company is based in Montreal, Canada.
Metro is the second largest grocer in both Ontario and Quebec, after Loblaw Companies Limited. There are 243 namesake stores in Quebec, averaging 2 000 m² (22,300 square feet) and 135 namesake stores in Ontario.
Super C is the discount supermarket division operated in Quebec with 60 stores, averaging 4 000 m² (45,200 square feet). These stores contribute to $1 billion of Metro's annual sales. Large Metro stores in Quebec operate under the Metro Plus name. Metro also operates 142 convenience stores under the Marché Richelieu banner. Moreover, it owns five private labels: "Selection", "Irresistibles", "Super C" (all created by Metro); as well as "Equality" and "Master Choice" from the acquisition of A&P Canada.
In November 2007, Metro reported a 9.3% increase in earnings for the fiscal year ending September 29, 2007, making C$276.6 million in 2007 compared to C$253 million in 2006.[2]
Metro Inc. is not affiliated with Germany's METRO AG.
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History
Metro acquired 48 of 112 Steinberg's supermarkets when that company went bankrupt in 1992. These stores were rebranded as "Super C" and "Metro" stores. It acquired Loeb Stores from Loblaws in 1999. Some of the stores were converted to "Super C", while others continued to operate as Loeb. The Super C stores in Ontario were converted to Food Basics. In 2009, the company converted all Loeb stores to Metro.
Following completion of its acquisition of A&P Canada on August 15, 2005, after beating out Sobeys in a bidding war, Metro now has a network in Quebec and Ontario of 573 conventional and discount food stores, and 256 pharmacies. Metro holds the second largest market share in the food distribution and retailing business in Quebec and Ontario with nearly C$11 billion in sales and more than 65,000 employees. Metro operates its food stores under the banners Metro, Metro Plus, Super C, A&P, Food Basics, Marché Ami and Les 5 Saisons. Its pharmacies operate under the banners Brunet, The Pharmacy, Clini-Plus, and Drug Basics.
On August 7, 2008, Metro announced it would invest $200 million consolidating the company's conventional food stores under the Metro banner. Over a period of 15 months, all Dominion, A&P, Loeb, the Barn and Ultra banners are being converted to the Metro name. Food Basics stores are not affected as it competes in the discount food segment.
Following Metro's expansion into Ontario, it used three different slogans in its advertising: "Grocers by Profession" / "Profession: épicier" in Quebec, and "Food at its best" in Ontario.
Acquisition of A&P Canada
On July 19, 2005, Metro Inc. announced that it had reached an agreement with The Great Atlantic and Pacific Tea Company Inc. and its subsidiary, A&P Luxembourg S.à.r.l., to acquire all of the issued and outstanding common shares of A&P Canada, for an acquisition price of C$1.7 billion, consisting of C$1.2 billion in cash and C$500 million in the form of treasury shares of Metro.[3] The purchase was completed on August 15, 2005.[4]
On August 7, 2008, Metro announced it would rename the company's Dominion, A&P, Loeb, The Barn and Ultra food stores as Metro stores at a cost of $200 million.[5]
Corporate governance
Current members of the board of directors of Metro Inc. are: Pierre Brunet, Marc De Serres, Claude Dussault, Serge Ferland, Bobbie Gaunt, Paule Gauthier, Paul Gobeil, Christian Haub, Maurice Jodoin (chairman), Maryse Labonté, Michel Labonté, Bernard Roy, Pierre Lessard, and Marie-José Nadeau.[6]
Locations
- Metro stores listed below, particularly in Quebec, include independently owned and operated stores that franchised the Metro name and concept.
Ontario
156 locations:
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Quebec
133 Metro locations:
86 Metro Plus locations:
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See also
References
- ^ "Company Profile for Metro Inc (CA;MRU.A)". http://zenobank.com/index.php?symbol=CA;MRU.A&page=quotesearch. Retrieved 2008-10-09.
- ^ Metro Inc. shares plummet
- ^ Metro Inc. in deal to buy A&P Canada for $1.7B
- ^ Metro Inc. corporate website
- ^ Metro Inc. rebranding Ontario stores
- ^ StockHouse.ca Company Snapshot
External links
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