EQB to acquire PC Financial from Loblaw for about $800M

TORONTO – EQB Inc. says it has agreed to acquire PC Financial from Loblaw Companies Ltd. for an estimated $800 million.

Under the terms, one or more subsidiaries of Loblaw will be issued 7.2 million common shares of EQB, representing around 16 per cent of its issued and outstanding common shares.

As part of the agreement, EQB will enter into a strategic relationship with Loblaw to become the exclusive financial partner of the PC Optimum loyalty program.

EQB says the acquisition will expand its total customer base by nearly 3.5 million while adding $5.8 billion in assets.

The deal is expected to close in 2026 and is subject to closing conditions and regulatory approvals

The acquisition was announced as the Toronto-based firm reported earnings for the fourth quarter and the 2025 fiscal