BUSINESS

St-Hubert, Swiss Chalet Deal Blasted By Pierre Karl Peladeau

03/31/2016 01:53 EDT | Updated 03/31/2016 01:59 EDT
CP/St-Hubert

QUEBEC — Parti Quebecois Leader Pierre Karl Peladeau is crying foul over an Ontario-based firm's takeover of the St-Hubert rotisserie-chicken chain.

Peladeau says today's $537-million deal will mean the loss of another leading Quebec company to interests from outside the province.

St-Hubert's buyer is Cara Operations Ltd. (TSX:CAO), which owns Swiss Chalet.

The PQ leader was also critical of the recently announced $3.2-billion acquisition of Quebec hardware chain Rona (TSX:RON) by U.S.-based Lowe's.

Both of the takeovers are friendly.

Peladeau is blaming Premier Philippe Couillard and his government for many of Quebec's economic woes and says the province seems to be up for sale.

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