Provigo
Former logo (2002-2015).
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Subsidiary (Loblaws' Quebec stores) Division (supermarket banner) |
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| Industry | Retail / Supermarket |
| Founded | 1969 |
| Headquarters | Montreal, Quebec, Canada |
| Products | Bakery, beer, charcuterie, dairy, deli, frozen foods, general grocery, liquor*, meat & poultry, produce, seafood, snacks, wine * Select locations |
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Number of employees
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5,700 |
| Parent | Loblaw Companies |
| Website | http://www.provigo.ca/ |
Provigo is a grocery retailer based in Quebec, Canada, consisting of over 300 stores and franchises throughout the province. It operates a retailing chain of stores and distribution warehouses. It is owned by Loblaw Companies Limited.
The chain's advertising slogan is "Si vite, si bon!" ("So quick, so good!")
In 1969, in response to Canadian and American competition, a consortium of four Quebec wholesalers merged their activities with the intent to save costs and establish services as a big company. One of these people was Antoine Turmel who would become the first CEO of Provigo. Provigo was founded in 1969 under the Couvrette & Provost name, which was changed to Provigo in 1970.
At first, Provigo was only the name of the holding company that used three banners for its grocery operations: "Provigain", "Provibec" and "Provipop". It wasn't until 1979 that the Provigo name itself would become an actual store banner by replacing the Provigain chain. Its sister Provibec was renamed AXEP in 1983. As for Provipop, it was changed to Jovi in the 1970s. Provigo's chain of convenience stores "Provi-Soir" (est.1974) was not impacted by these rebrandings and retained its name until its merger with Couche-Tard in the late 1990s.
Acquisitions of Provigo over the years have included Les Aubaines alimentaires in 1972, Jato in 1975, Dionne in 1977, Dominion and Raymond in 1981, A&P Montréal in 1984 and Steinberg in 1992.
After many years of growth, the Caisse de dépôt et placement du Québec purchased a stake in Provigo and named Pierre Lortie to head the company and ousted Pierre Lessard who would become president of Aetna and, after that, the CEO of Metro Inc, an important competitor of Provigo.
For various reasons, Provigo faced financial problems in the 1980s, notably because of its easy target in political agendas. For example, the Caisse de dépôt et placement du Québec offered the control of the company to Ungesco, a holding company by Bertin Nadeau. Nadeau unsuccessfully attempted to turn Provigo as the center of its financial empire. Also during those years, Provigo was facing ferocious competition from giant Steinberg to maintain its presence in the Quebec grocery industry. After winning the battle in a Pyrrhic style victory, Provigo seek to regain profitability.
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Wikipedia