George Weston (GWL) is a Canadian company that operates through two reportable segments: Loblaw and Choice Properties. The Loblaw segment is operated by LCL through its subsidiaries. LCL is a public company in which GWL held an approximate 52.6% interest as on December 31, 2021. The Choice Properties segment is operated by Choice Properties, an unincorporated, open-ended real estate investment trust in which GWL held an approximate 61.7% interest as on December 31, 2021, through its ownership of 50,661,415 trust units and all Class B LP units of Choice Properties Limited.
Loblaw has two reportable operating segments: Retail and Financial Services. The Retail segment consists primarily of corporate and franchise-owned retail food, Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, apparel, and other general merchandise. Loblaw offers Canada’s strongest control label programs, including the President’s Choice, PC, Life Brand, Farmer’s Market, and Joe Fresh brands. In addition, through the PC Optimum loyalty program, Loblaw rewards Canadian consumers for shopping in-store or online, including through personalized offers on customers’ online accounts. Loblaw’s Financial Services segment provides credit card services, insurance brokerage services, guaranteed investment certificates, and wireless mobile products and services. Loblaw had 542 Corporate Stores,552 Franchised Stores, and 1,345 Associate-Owned Shoppers’ Drug Mart Stores by the end of FY2021.
Choice Properties owns, manages, and develops of high-quality real estate portfolio of commercial, retail, industrial, office, and residential properties across Canada. Choice Properties is Canada’s premier diversified REIT with a portfolio comprising 709 income-producing properties with a total GLA (Gross Leasable Area) of approximately 65.8 million square feet as on December 31, 2021. Choice Properties’ portfolio includes 571 retail properties, 117 industrial properties, 16 office complexes, and 5 multi-family residential buildings. The Group’s consolidated revenue was $53,748 million in FY2021, an increase of 0.9%, compared to FY2020 YoY.
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