CTV exclusive: Union-led consortium offering to buy LCBO for $11B
A consortium led by Ontario’s largest union is offering to buy a majority stake in the LCBO for $11 billion, CTV News has learned.
The Ontario Public Service Employees Union teamed up with Onex Corporation -- one of Canada’s most powerful companies -- to make the multi-billion dollar bid to buy 75 per cent interest in the liquor store monopoly.
A presentation to the government obtained by CTV News stated that “an OPSEU-led deal” would be fully supported by labour and backed by public pension funds, and would ensure ownership and control by working Canadians. The LCBO pulls in $1.75 billion in profit to Ontario each year.