John's Feed
May 12, 2011

DSM sees attractive targets in India, China

TORONTO (Reuters) – Cash-rich Royal DSM NV, the world’s biggest vitamins maker, is looking to make acquisitions in India and China, possibly including one big one, as it aims for rapid growth in emerging-market economies, its top executive says.

The Dutch company’s chief executive, Feike Sijbesma, who recently led a $1.1 billion deal to buy U.S. baby food ingredients maker Martek Biosciences Corp, said there is tremendous urgency to DSM’s moves to expand in emerging markets.

May 11, 2011

Canada’s Gildan profit rises with price increases

TORONTO, May 11 (Reuters) – Clothing maker Gildan
Activewear Inc (GIL.TO: Quote, Profile, Research, Stock Buzz) (GIL.N: Quote, Profile, Research, Stock Buzz) reported a higher quarterly
profit on Wednesday, topping analyst estimates, as price
increases and greater sales volumes overshadowed a rise in raw
material costs.

The maker of basic clothing items such as T-shirts, socks
and underwear also raised its full-year outlook on the back of
the recently announced acquisition of U.S.-based sock maker
Gold Toe Moretz Holdings for about $350 million and more
planned price increases.

May 10, 2011

Rona sales tumble, shares drop 10 pct

TORONTO, May 10 (Reuters) – Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz) reported a
wider-than-expected quarterly loss on Tuesday as homeowners
pulled back on renovation projects, leading to a sharp decline
in sales at Canada’s No.1 do-it-yourself chain.

The company’s shares tumbled after it said sales at
established stores fell 12.6 percent in the first quarter. The
stock slumped as much as 10 percent to its lowest in almost two
years.

May 9, 2011

Canadian Tire to buy Forzani for C$771 mln

TORONTO, May 9 (Reuters) – Canadian Tire Corp (CTC.TO: Quote, Profile, Research, Stock Buzz)
(CTCa.TO: Quote, Profile, Research, Stock Buzz) said on Monday it would pay C$771 million ($798.5
million) to acquire Forzani Group Ltd (FGL.TO: Quote, Profile, Research, Stock Buzz), Canada’s No.1
sporting goods retailer.

The friendly deal will give Canadian Tire, one of Canada’s
biggest retailers, a commanding presence in sporting goods at a
time when U.S. retailers are looking for growth opportunities
north of their border.

May 3, 2011

Valeant looks past Cephalon to other deals

TORONTO (Reuters) – Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz), which dropped a $5.7 billion offer for Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz) earlier this week, is talking to potential takeover targets and will pursue other large deals, its chief executive said on Tuesday.

CEO Michael Pearson said the Canadian drugmaker was looking at acquisitions of all sizes and that Valeant had the financial firepower to do a deal bigger than that of Cephalon.

May 2, 2011

Valeant to eye other targets after Cephalon escapes

TORONTO (Reuters) – Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) is expected to turn its attention to other acquisition targets in the specialty pharmaceuticals landscape after pulling out of the race to buy Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz) on Monday.

Shares of the Canadian drugmaker fell as much as 10 percent, erasing some of the gains they have made since Valeant announced its takeover offer for U.S.-based specialty drugmaker Cephalon in March.

Apr 28, 2011

Jean Coutu posts higher profit, raises dividend

TORONTO, April 28 (Reuters) – Jean Coutu Group Inc
(PJCa.TO: Quote, Profile, Research, Stock Buzz) reported a higher quarterly profit on Thursday,
beating analysts’ estimates, as the Canadian pharmacy chain
posted modest gains in both prescription and front-of-store
sales.

The company also set a quarterly dividend of 6 Canadian
cents a share, up 9.1 percent from the previous quarter, and
said it was looking for acquisitions.

Apr 27, 2011

Shoppers Drug profit lifted by non-pharma sales

TORONTO, April 27 (Reuters) – Shoppers Drug Mart Corp
(SC.TO: Quote, Profile, Research, Stock Buzz), Canada’s biggest drugstore chain, posted a higher
quarterly profit on Wednesday, helped by robust sales of
non-pharmacy items.

The strength in front-store sales, a term pharmacy chains
use to refer to food, drink and beauty items, overshadowed a
prolonged slump in Shoppers’ prescription drug sales, which
have been hit by government regulatory moves.

Apr 21, 2011

Canada’s Rona scouts U.S. acquisitions

TORONTO (Reuters) – Canadian home improvement chain Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz) could spend as much as C$300 million ($316 million) on U.S. acquisitions this year, taking advantage of a strong Canadian dollar and U.S. economic weakness.

Rona Chief Executive Robert Dutton told Reuters in an interview this week his company is focusing on acquiring U.S. distributors or commercial and professional-orientated units, rather than customer-facing retail stores.

Apr 19, 2011

Canada retailers can withstand U.S. invasion -Rona

TORONTO, April 19 (Reuters) – Canadian retailers can hold
their own against an aggressive U.S. retail drive north of the
border, the top executive of leading home improvement chain
Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz) told business leaders in Toronto on Tuesday.

“Despite the Costcos (COST.O: Quote, Profile, Research, Stock Buzz), the IKEAs, the Zaras and the
Staples (SPLS.O: Quote, Profile, Research, Stock Buzz), retail has remained largely a national, even
regional affair,” Rona Chief Executive Robert Dutton said in
prepared statements for a speech to the Economic Club of
Canada.