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Uniprix shareholders overwhelmingly approve acquisition by McKesson

Last Updated May 16, 2017 at 5:00 pm EST

MONTREAL – The Uniprix Group says its shareholders voted 95 per cent in favour of a deal announced last month for McKesson Canada to acquire 330 pharmacies in Quebec.

The acquisition is subject to closing conditions and regulatory approvals, including the Competition Bureau of Canada.

Uniprix CEO Philippe Duval says it’s pleased that members believe in the transaction and its commitment to protect the autonomy of independent pharmacy owners.

McKesson has committed to allow the Uniprix pharmacies to be run independently, keep its Montreal head office and avoid job cuts.

The value of the transaction has not been made public. Uniprix says its annual sales are a little more than $1.6 billion.

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.