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Loblaw's Galen G. Weston Wins Canadian Press Business Newsmaker of the Year

Loblaw's Galen G. Weston Wins Canadian Press Business Newsmaker of the Year


ONTARIO

Galen G. Weston has been named Canadian Press Business Newsmaker of the Year for 2013. He has been a familiar face in Canada for years now, as the spokesperson for Loblaw grocery stores and has been involved in several major business news stories this year.

His company, which owns Loblaw, President’s Choice and several other grocery brands as well as the Joe Fresh clothing line, has said it remains focused on winning over customers with lower prices and a bigger selection of fresh foods, according to The Globe and Mail.

Weston, who received around 22% of the votes, was involved in a large acquisition this year. In a move to compete with retail giants like Walmart, Loblaw moved to buy Shoppers Drug Mart in a huge $12.4 billion deal. Shoppers Drug Mart's shareholders have recently voted to accept the takeover offer, and the deal is currently before the federal competition bureau of Canada for approval.

“It’s not just one of the largest deals this year – it’s one of the largest deals in Canada ever,” Derek DeCloet, Editor of Report on Business at The Globe and Mail, said in voting for Weston. “It will shape the future of the Canadian retailing sector.”

Last summer, Loblaw also spun off its real estate holdings into a publicly traded trust, called Choice Properties, which remains majority owned by Loblaw.

Galen G. Weston, whose family is Loblaw’s biggest shareholder, took over from his father W. Galen Weston as executive chairman of Loblaw in 2006. Since then, he has helped personify the brand and differentiate it from competitors. He has also positioned himself as a champion for healthy, organic and ethical food, with TV commercials that emphasized those product categories.

Congratulations Galen!

The Globe and Mail

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