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Article: SDM's Bloom Believes `Best Is Yet to Come'.(Brief Article)
- Article from:
- Mass Market Retailers
- Article date:
- June 26, 2000
CopyrightCOPYRIGHT 2000 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WILLOWDALE, Ontario -- David Bloom, who has headed Shoppers Drug Mart Ltd. (SDM) for nearly two decades, scored one of his most important victories last fall by helping arrange the deal that kept the company intact and independent.
The fate of Canada's largest drug chain had been put at risk when SDM's parent company, Imasco Ltd., was purchased by British American Tobacco PLC. Imasco's new owners had bought it for its tobacco holdings and decided to put SDM up for sale.
Had a rival retailer purchased the chain, it's doubtful that SDM would have survived in its current form. And, indeed, the Jean Coutu Group, Canada's No. 2 drug chain, was among the ...