Imasco

Imasco Limited was a Canadian diversified holding company headquartered in Montreal, Quebec. The company was established in 1970 under the name Imperial and Associates, Co., and developed a portfolio of businesses spanning tobacco, banking and financial services, pharmacy retail, industrial and investment holdings, and restaurants. Rather than functioning as a consumer-facing product brand in the modern sense, Imasco served primarily as a corporate owner and portfolio-management vehicle. Its most prominent assets included Imperial Tobacco Canada, Canada Trust, Shoppers Drug Mart, Genstar, and the Hardee's restaurant chain. These holdings gave Imasco exposure to several distinct industries and business models. Imperial Tobacco Canada represented the group's tobacco operations; Canada Trust operated in Canadian financial services; Shoppers Drug Mart was a major pharmacy and retail business; Genstar represented diversified corporate and industrial interests; and Hardee's provided an American fast-food presence. During the late 1990s and 2000, Imasco progressively divested several of its best-known businesses. Hardee's was sold in 1997 to CKE Restaurants, the company associated with the Hardee's chain. In 2000, Canada Trust was sold to Toronto-Dominion Bank, while Shoppers Drug Mart was sold to a consortium of institutional investors. These transactions reduced the breadth of Imasco's portfolio and preceded the resolution of British American Tobacco's ownership position. British American Tobacco already held 41.5 percent of Imasco's shares. In 2000, it acquired the remaining 58.5 percent and amalgamated Imasco with Imperial Tobacco Canada Limited. This transaction ended Imasco's existence as a separate corporate entity. Its former businesses continued under their respective operating identities or new ownership, but the Imasco corporate brand itself is no longer active.

Imasco began in 1970 as Imperial and Associates, Co., a Canadian corporate organization headquartered in Montreal, Quebec. It was created as a diversified holding company rather than as a single operating brand. Over time, its portfolio expanded across several major sectors, including tobacco, financial services, pharmacy retail, restaurants, and other corporate investments. The company's tobacco interests were represented by Imperial Tobacco Canada. Imasco also owned Canada Trust, a Canadian financial-services institution, and Shoppers Drug Mart, a pharmacy and retail chain. Other significant holdings included Genstar and the Hardee's restaurant chain. Through these assets, Imasco combined businesses with different customers, regulatory environments, and operating structures under one corporate parent. Imasco's portfolio changed substantially in the late 1990s. In 1997, it sold Hardee's to CKE Restaurants. The divestiture transferred ownership of the American restaurant chain away from Imasco and reduced the group's direct exposure to the fast-food sector. The company's restructuring continued in 2000. Canada Trust was sold to Toronto-Dominion Bank, and Shoppers Drug Mart was sold to a consortium of institutional investors. These transactions separated two of Imasco's most recognizable Canadian operating businesses from the holding company. They also reflected the progressive unwinding of Imasco's diversified portfolio. British American Tobacco was a major shareholder of Imasco and held 41.5 percent of its shares. In 2000, British American Tobacco acquired the remaining 58.5 percent. Following the acquisition, Imasco was amalgamated with Imperial Tobacco Canada Limited. This amalgamation brought Imasco's separate corporate existence to an end. Its former businesses continued through successor owners or operating companies, while Imasco ceased to function as an independent corporate brand.

• 2000

  Canada Trust sold

  [1]Imascoen.wikipedia.org

  Canada Trust was sold to Toronto-Dominion Bank.

• 2000

  Shoppers Drug Mart sold

  [1]Imascoen.wikipedia.org

  Shoppers Drug Mart was sold to a consortium of institutional investors.

• 2000

  Absorbed by British American Tobacco

  [1]Imascoen.wikipedia.org

  British American Tobacco acquired Imasco's remaining shares and amalgamated the company with Imperial Tobacco Canada Limited.

• 1997

  Hardee's divested

  [1]Imascoen.wikipedia.org

  Imasco sold the Hardee's restaurant chain to CKE Restaurants.

• 1970

  Established as Imperial and Associates, Co.

  [1]Imascoen.wikipedia.org

  The company that became Imasco was founded in Canada under the name Imperial and Associates, Co.

A Canadian diversified holding company whose portfolio combined tobacco, financial services, pharmacy retail, restaurants, and other corporate investments.

• Tobacco

  Imperial Tobacco Canada

  Imperial Tobacco Canada was Imasco's tobacco operating business and one of the group's principal assets. It represented the company's participation in Canada's tobacco industry and ultimately became the operating entity with which Imasco was amalgamated after British American Tobacco acquired the remaining shares.

• Financial services

  Canada Trust

  Canada Trust was Imasco's Canadian financial-services holding. It operated as a distinct banking and financial-services business until Imasco sold it to Toronto-Dominion Bank in 2000.

• Pharmacy and retail

  Shoppers Drug Mart

  Shoppers Drug Mart was Imasco's pharmacy and retail business. It was one of the company's best-known Canadian operating holdings and was sold in 2000 to a consortium of institutional investors.

• Fast food

  Hardee's

  Hardee's was Imasco's restaurant-chain holding and provided the group with a substantial presence in the United States fast-food market. Imasco sold the chain to CKE Restaurants in 1997.

• Diversified holdings

  Genstar

  Genstar was one of Imasco's major holdings and represented the company's broader exposure to diversified corporate and industrial interests. The available reference material does not provide further detail on its products, operating structure, or disposition.

• 2000

  Sale of Canada TrustM&A

  Background

  Imasco continued to unwind its diversified portfolio in 2000.

  Action taken

  The company sold Canada Trust to Toronto-Dominion Bank.

  Aftermath

  Canada Trust left Imasco's portfolio and became part of Toronto-Dominion Bank's business.

  Source

• 2000

  Sale of Shoppers Drug MartM&A

  Background

  Shoppers Drug Mart was one of Imasco's principal Canadian retail holdings.

  Action taken

  Imasco sold Shoppers Drug Mart to a consortium of institutional investors.

  Aftermath

  The pharmacy retailer was separated from Imasco's corporate portfolio.

  Source

• 2000

  Acquisition and amalgamation by British American TobaccoM&A

  Background

  British American Tobacco already owned 41.5 percent of Imasco's shares.

  Action taken

  British American Tobacco acquired the remaining 58.5 percent and amalgamated Imasco with Imperial Tobacco Canada Limited.

  Aftermath

  Imasco ceased to exist as a separate corporate entity, while its corporate and operating activities were absorbed into the Imperial Tobacco Canada structure.

  Source

• 1997

  Divestiture of Hardee'sM&A

  Background

  Hardee's was one of Imasco's major operating holdings, giving the Canadian group a presence in the U.S. restaurant sector.

  Action taken

  Imasco sold Hardee's to CKE Restaurants.

  Aftermath

  The sale removed Hardee's from Imasco's portfolio and reduced the group's restaurant exposure.

  Source

1. 1Imascoen.wikipedia.org