CA - George Weston Limited: Two Core Canadian Holdings At A Discount

2024-07-21 12:40:27 ET

Summary

• George Weston Limited's assets include majority shares in Loblaws and Choice Properties REIT, making it a strong investment opportunity.
• George Weston Limited is owned by Wittington Investments, the holding company of the Weston family. It has raised cash by divesting its stakes in other retail businesses in recent years.
• George Weston Limited's minority discount is at the wide end of its historic range. It is an opportune time to get exposure to Loblaws and Choice REIT.
• Insiders, including Galen Weston, the controlling shareholder of George Weston's parent, and the chairman of GWL, Loblaws and Choice Property REIT, have recently purchased shares in GWL.

George Weston Limited ( WN:CA ) ( WNGRF ), or ‘GWL’, was founded in 1882 , and it has traded on the Toronto Stock Exchange since 1928. During the 1930s and 40s the company experienced rapid growth, both organically and through acquisitions, in both Canada and the UK, and the company was dubbed “Britain’s Biggest Baker” by the Canadian press. In 1944, the company started to purchase grocers, and this accelerated in 1947, when it started to buy shares in Loblaw Groceterias. By 1953, GWL had acquired a controlling stake in Loblaw, which became its leading asset, eventually being re-named Loblaws. Successive generations of the Weston family have played a significant role in the management and operations of both GWL and Loblaws. Until his resignation at the start of 2024, Galen G Weston, was the President of Loblaws. He currently remains the Chair of both GWL and Loblaws, and he is also the controlling shareholder of Wittington Investments, Limited, GWL's parent....

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