The North West Company Inc.

The North West Company Inc.

February 09, 2017 16:05 ET

The North West Company Inc. Announces the Closing of the Acquisition of 76% Ownership in Roadtown Wholesale Trading Ltd. (operating as Riteway Food Markets)

WINNIPEG, MANITOBA--(Marketwired - Feb. 9, 2017) - The North West Company Inc. (TSX:NWC) ("North West") has closed its previously announced acquisition of 76% of the shares of Roadtown Wholesale Trading Ltd. ("RTT") for a purchase price of approximately US$32 million. The acquisition is expected to contribute approximately US$5 million of annualized net income to North West.

About RTT and North West

RTT has seven retail outlets, one Cash and Carry, and one wholesale operation serving the British Virgin Islands. North West is a Canadian-based, widely-held publicly traded retailer that specializes in serving smaller countries and regions. North West's retail presence in the Caribbean includes Cost-U-Less stores in Cayman Islands, Barbados, Curacao, St. Maarten, St. Thomas and St. Croix.

The common shares of North West trade on the Toronto Stock Exchange under the symbol "NWC".

Contact Information

  • For RTT:
    Simon Potter
    (284) 340-2263 (ext. 1002)

    For North West:
    Media Enquires, contact:
    Dan McConnell
    Executive Vice-President & Chief Development Officer
    (204) 934-1712

    Investor Enquiries, contact:
    John King
    Executive Vice-President & Chief Financial Officer
    (204) 934-1397