History of Metro Inc.
Metro Inc., a prominent Canadian food retailer, was established in 1947 in Verdun, Quebec, by Rolland Jeanneau. Initially named Magasins Lasalle Stores Ltée, the company began as a collective of independent grocery stores. In 1956, inspired by Montreal's plans for a rapid transit system called the 'Metro,' the company introduced a division under the same name. This initiative led to significant growth, and by 1957, the company operated 73 stores with revenues reaching $10 million. Recognizing the success of the Metro division, the company rebranded itself as Metro-Lasalle in 1963 and later as Metro-Ltée in 1972. A pivotal merger with Marché Richelieu in 1975 resulted in the formation of Groupe Metro-Richelieu Inc.
Throughout the 1980s and 1990s, Metro expanded its footprint through strategic acquisitions and mergers. In 1986, the company went public on the Montreal Stock Exchange, bolstering its financial foundation. Facing economic challenges in the early 1990s, Metro implemented a restructuring plan and acquired 48 Steinberg supermarkets in 1992, rebranding them as Super C and Metro stores. This move strengthened its market position in Quebec. The company's expansion continued with the acquisition of Loeb Stores from Loblaws in 1999, marking its entry into the Ontario market. A significant milestone was achieved in 2005 when Metro acquired A&P Canada for $1.7 billion, adding 573 supermarkets and 256 pharmacies to its portfolio, and solidifying its presence in both Quebec and Ontario.
In the subsequent years, Metro continued to diversify and grow. In 2011, it acquired a majority stake in Marché Adonis, a retailer specializing in Mediterranean foods, catering to the diverse Canadian market. The company's expansion into the pharmaceutical sector was marked by the 2018 acquisition of the Jean Coutu Group for $4.5 billion, positioning Metro as a leading retailer and distributor of both food and pharmaceutical products in Canada. Today, Metro operates under various banners, including Metro, Metro Plus, Super C, and Food Basics, with a workforce exceeding 65,000 employees and annual sales surpassing $11 billion.