MONTREAL—Jean Coutu fought back tears as he bid adieu to shareholders Wednesday after they approved the sale of the pharmacy chain he founded to Metro Inc., in a move that could pave the way for expansion beyond Quebec. “I gave my all, my best, in business and my profession,” the company founder said before choking up. Coutu, 90, said he will now devote his time and energy to helping the poor through a foundation established with his wife and family. The Marcelle and Jean Coutu Foundation, which has around $500 million in assets, has long helped projects to aid the poor, women, victims of child abuse and the fight against drug addiction. Coutu, who founded the pharmacy chain in 1969, said watching the network join another retailer was a bit like a mother watching her youngest child leave home.

Source: thestar November 29, 2017 18:45 UTC