MONTREAL, Sept. 28 /CNW Telbec/ - Metro Inc. ("Metro") and Les Supermarchés GP Inc. ("GP") announced today they have completed the purchase by Metro of fifteen (15) GP supermarkets. The completion of the transaction follows the satisfaction of conditions specified in the agreement reached between Metro and GP.
With annual sales of close to $11 billion and more than 65,000 employees, Metro Inc. is a leader in the food and pharmaceutical sectors in Quebec and Ontario, where it operates a network of almost 600 grocery stores under several banners, including Metro, Metro Plus, A&P, Super C and Food Basics as well as over 250 pharmacies under the Brunet, Brunet Plus, Clini Plus, The Pharmacy and Drug Basics banners.
Groupe GP Inc.
Groupe GP Inc. will henceforth focus its energy on the real estate sector, where it has been active for the last 34 years. The Groupe has over $130 million in assets such as shopping centres, office buildings and warehouses. It also owns some 7,500,000 sq. ft. of land for future development in Quebec City and Eastern Quebec.
Forward - looking information
This release contains various terms that could be considered as forward-looking information. In general, any statement contained in this release that does not constitute a historical fact may be deemed a forward-looking statement. Expressions such as "expected" and "conditions," as well as other similar expressions, generally indicate forward-looking statements. These forward-looking statements do not provide any guarantee regarding Metro's future performance or the outcome of the transaction, and are subject to potential risks, known and unknown, as well as uncertainties that could cause the outcome to differ significantly. An economic slowdown or recession, and the arrival of a new competitor are examples of the risks described in the "Risk Management" section of Metro's 2008 Annual Report which could have an impact on these statements. Metro does not intend to update any forward-looking statements that this release might contain, except if required by law.
SOURCE METRO INC.
For further information: For further information: Marie-Claude Bacon, Director, Corporate Affairs, Metro Inc., (514) 643-1086, firstname.lastname@example.org; Jean Ferron, Communication conseil Ferron, (418) 692-3001, (418) 564-2517; Sources: Metro Inc.; Les Supermarchés GP inc.