George Weston (GWL) is a Canadian company that operates through two reportable segments: Loblaw and Choice Properties. The company also manages and operates real estate which leases out to commercial customers. Loblaw is a food and pharmacy retailer which provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial services, through its grocery banners, Shoppers Drug Mart, Joe Fresh, and President’s Choice Bank. Choice Properties REIT is a real estate investment trust that aims to create long-term value by owning, managing, and developing high-quality assets. The Choice Properties portfolio consists of retail properties, primarily leased to necessity-based tenants, and industrial, office, and residential assets. GWL owned 2,439 stores through Loblaw and 709 properties of Choice Properties in FY2021. In December 2021, the Company announced the completion of the sale of Weston Foods’ fresh and frozen bakery and ambient business to FGF Brands Inc. and Hearthside Foods Solutions. GWL is headquartered in Toronto, Ontario, Canada.
In FY2021, the Group had a store count and properties aggregating 3,148 globally. There was a decrease in the total store count by 7 stores compared to FY2020 YoY. This was due to the sale of a stake in Weston Foods that comprised the fresh, frozen, and ambient bakery businesses.
Of the 3,148 stores GWL owned, Loblaw operated 542 Corporate Stores, 552 Franchised Stores, and 1,345 Associate-Owned Shoppers Drug Mart Stores by the end of FY2021. Loblaw operates under two segments: Retail and Financial Services. The Retail segment comprises of corporate and franchise-owned retail food and Associate-owned drug stores and includes in-store pharmacies and other health and beauty products, apparel, and other general merchandise. Loblaw’s Financial Services segment provides credit card services, insurance brokerage services, guaranteed investment certificates, and wireless mobile products and services.
Choice Properties on the other hand is the owner, manager, and developer of a high-quality real estate portfolio of commercial, retail, industrial, office, and residential properties across Canada. In FY2021, Choice Properties’ portfolio included 571 retail properties, 117 industrial properties, 16 office complexes, and 5 multi-family residential buildings.
The total store count of GWL spiked from 2,973 in FY2017 to 3,174 in FY2018. This was due to the acquisition of CREIT by Choice Properties which was completed on May 4, 2018. The acquisition added 209 properties and 22.7 million square feet of GLA (Gross Leasable Area) including retail, industrial, office, and residential properties to the portfolio and increased the property concentration in major markets across Canada.
United States of America
United States of America
Germany
United States of America
United States of America
Norway
Netherlands
France
United Kingdom
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward