The deal, estimated at US$53 million, also calls for PJC to work with Quebecor's custom publishing subsidiary TVA Studio and is part of Quebecor's strategy to make print part of a fully-integrated advertising and marketing service.
In a statement, Quebecor President/CEO Pierre Karl Peladeau noted the new partnership follows a US$132m investment several years ago to modernize the company's commercial printing facilities in Quebec, and added, "This partnership with The Jean Coutu Group was made possible by our highly innovative approach in terms of integrated solutions; it is the perfect example of the huge potential of the new business model we implemented."
Quebecor Media, which owns the Toronto Sun and other dailies, has also been aggressively expanding its editorial division as well, launching eight new community newspapers in Quebec in 2010 and adding 15 additional community outlets earlier this year with the acquisition of Les Hebdos Monteregiens.
Quebecor Media inks US$53m deal with Canadian pharmacy retailer
Montreal-based printer/publisher Quebecor Media announced a five-year deal with Canadian retail pharmacy chain The Jean Coutu Group (PJC) to produce printed promotional material, including a weekly flier.