Images By Tang Ming Tung/DigitalVision via Getty Images George Weston Limited ( TSX: WN:CA ) ( OTCPK: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. The assets of GWL are easy to identify, and easy to value. They consist of; i) the majority of the shares of Loblaws Companies Ltd ( L:CA )( OTCPK:LBLCF ), Canada’s largest processor and distributor of food, ii) the majority of the shares of Choice Properties Real Estate Investment Trust, ( CHP.
UN:CA ) ( OTC:PPRQF ) Canada’s largest REIT, and, iii) “Other Stuff”. In my opinion, GWL is a BUY , because; Loblaws should be a core holding for .