Jean Coutu in advanced talks to be acquired by Metro
MONTREAL — Industry consolidation continued in the Great White North as the Jean Coutu Group could soon be part of Canada’s third-largest grocery chain. The company announced Wednesday that it was in advanced talks with Metro, which operates in Quebec and Ontario, regarding a potential combination agreement.
Under the terms of a non-binding letter of intent dated Aug. 22, the company would be acquired for $24.50 per share, paid 75% in cash and 25% in Metro shares.
The Coutu family has indicated that it intends to support the proposed acquisition, the companies said. At midday Tuesday, Canadian regulators halted trading of the two companies’ stocks, BNN reported.
Metro, whose headquarters are in Quebec, operates nearly 600 food stores under the Metro, Metro Plus, Super C and Food Basics banners, as well as more than 250 drug stores under the Brunet, Metro Pharmacy and Drug Basics banners.
The Jean Coutu Group operates a network of 419 franchised stores under the PJC Jean Coutu, PJC Santé and PJC Santé Beauté banners. It also owns Quebec-based subsidiary generic drug maker Pro Doc. In 2017, the company’s retail sales were $4.47 billion.
AmerisourceBergen Foundation makes $100K-plus commitment to hurricane relief
VALLEY FORGE, Pa. — The AmerisourceBergen Foundation is stepping in to help with hurricane recovery experts. The nonprofit arm of AmerisourceBergen has committed more than $100,000 to communities impacted by Hurricanes Harvey and Irma.
The foundation has made more than $55,000 in targeted donations to regional relief support organizations in Houston and the Caribbean. Among the organizations receiving fundsare the International Medical Corps, Center for Disaster, Hurricane Irma Fund, Greater Houston Community Foundation and Austin Pets Alive! Each organization received a grant for focusing on building healthy communities and improving patient outcomes, with their efforts including medication deliver, mobile medical units, temporary housing and shelter for people and pets and long-term disaster relief needs.
The foundation also will match up to $100,000 in AmerisourceBergen associate and customer donations made to the American Red Cross.
“It’s heartbreaking to see the devastation in communities across the country and Caribbean — and as millions of people now face the daunting challenge of rebuilding their lives, we hope to bolster the ongoing relief efforts led by organizations on the ground,” said Gina Clark, AmerisourceBergen VP and chief communications and administration officer and AmerisourceBergen Foundation president. “In order to maximize our impact, we identified organizations that align with our core mission to improve the health and wellbeing of patient populations.”
AmerisourceBergen said that during natural disasters, the company uses its network of distribution centers, couriers and associates to ensure providers have access to pharmaceuticals. When Hurricane Harvey made landfall in Texas, the company identified alternate routes and such alternate delivery methods as airlifting supplies or using vehicles that could traverse high-standing water to deliver to hospitals in the Houston metro area. The company also offered advance ordering options to hospitals in Florida ahead of Hurricane Irma making landfall.
“For AmerisourceBergen, we are committed to ensuring patient access to vital pharmaceutical products every day. It is during these rare occasions, when something like an unprecedented natural disaster jeopardizes the critical and necessary medical deliveries that the role of a AmerisourceBergen — comes to the forefront,” AmerisourceBergen SVP distribution services Erin Horvath said.
In Puerto Rico, the company stocked its Puerto Rico distribution center with non-perishable food and pallets of water, as well as a refrigerated trailer that could store temperature-sensitive products for an extended amount of time in case the distribution center lost power. And in Houston, the company’s distribution center offered families access to an on-site shower and such emergency supplies as food, water, clothes and baby food.
“Successful supply chains rely on a trusted partner with a strong infrastructure in place to react to the unexpected. During these times, we are working around the clock to provide hospitals and healthcare providers with the products they rely on to treat those who are immediately impacted, as well as long-term patients with chronic or existing life-threatening conditions,” Horvath said.
Albertsons names new VP advertising
BOISE, Idaho — Albertsons last week named Guy Burgstahler VP advertising.
"Guy is a creative visionary with proven experience building engagement and loyalty among a variety of customers," stated Shane Sampson, chief marketing and merchandising officer. "Our banners have a great story to tell, and Guy will have plenty of material to work with throughout our operating areas. We have deep ties to the communities we serve, and we are poised to compete as fiercely as ever in our stores and across our digital platforms."
Burgstahler brings more than 20 years of advertising leadership experience with companies like Dick's Sporting Goods, PetSmart and Tractor Supply Company. He helped move Dick's to its No. 1 position through innovative omnichannel campaigns and helped increase PetSmart's comp traffic with targeted multi-media and integrated campaign strategies.
Burgstahler spent the last five years as a marketing executive for category-leading manufacturing brands and most recently was an entrepreneur, working as partner of a full-service marketing agency in Florida.
Burgstahler joined the company this week and will office out of the Boise corporate campus. He is a graduate of the State University of New York at Buffalo, and has a passion for family, sports and volunteering with organizations that benefit youth.