The North West Company Inc. Announces the Closing of the Acquisition of 76% Ownership in Roadtown Wholesale Trading Ltd. (operating as Riteway Food Markets)
/EINPresswire.com/ -- 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".
For RTT:
Simon Potter
Chairman
(284) 340-2263 (ext. 1002)
spotter@rtwbvi.com
For North West:
Media Enquires, contact:
Dan McConnell
Executive Vice-President & Chief Development Officer
(204) 934-1712
dmcconnell@northwest.ca
Investor Enquiries, contact:
John King
Executive Vice-President & Chief Financial Officer
(204) 934-1397
jking@northwest.ca
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
