Loblaw announces support for revised Grocery Code of Conduct
This decision follows a series of discussions the Company held with the
"We have worked intensively and collaboratively with industry groups so that the Code is clearly drafted and fair for all industry participants," said Per Bank, President and CEO,
The path to the Code was initiated by the Federal-Provincial and Territorial Ministers of Agriculture as a volunteer, industry-led solution. The Code's more than two-year development has been a collaboration by organizations within the grocery industry – including retailers, processors and manufacturers – to ensure support across the entire supply chain. Throughout this time, a large focus of the consultation was on developing a code that works for small suppliers, consumers and the industry, recognizing the complexities of the Canadian grocery market.
"It is welcome news that Loblaw has agreed to participate in the Grocery Code of Conduct," said
Loblaw will continue to work with the industry as the Code is finalized and put into practice.
Loblaw's purpose is to help Canadians live life well. It makes good food affordable, health, beauty and wellness accessible, saving for the future possible, and essential style achievable.
This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to the finalization and adoption of the Code and its potential impacts on Loblaw, its suppliers, customers and the grocery industry. Such forward-looking information is based on a number of assumptions and reflects Loblaw's current expectations. Loblaws does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.
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