Skip to content

Dollarama's founding Rossy family selling 2.2 million shares in retailer

2021040811048-606f1cf8479e1d46372dae20jpeg

MONTREAL — Dollarama Inc. says the Rossy family, which founded the company, is selling a total of 2.2 million shares in the discount retailer.

The company says GRI Investments Inc., a private corporation controlled by the Rossy family, the Rossy Foundation and chief executive Neil Rossy are selling 618,369, 1,205,066 and 376,565 Dollarama shares respectively in block trades to a financial institution.

Dollarama says the sale by the Rossy Foundation will be used to fund its commitments to charitable organizations, while the sales by GRI Investments and Neil Rossy were made for financial diversification purposes. 

Once the trades are settled, Dollarama says GRI Investments, the Rossy Foundation and Neil Rossy will still hold a total of nearly 13.1 million shares in the company for a 4.2 per cent stake.

After falling along with the rest of the stock market in the early days of the pandemic, shares in Dollarama have recovered and have been trading near their 52-week high in recent days.

Last week, the company reported a profit of $564.3 million or $1.81 per diluted share on sales of $4.03 billion in its latest financial year, up from $564 million or $1.78 per diluted share on $3.79 billion in sales the previous year.

This report by The Canadian Press was first published April 8, 2021.

Companies in this story: (TSX:DOL)

The Canadian Press


Looking for National Business News?

VillageReport.ca viewed on a mobile phone

Check out Village Report - the news that matters most to Canada, updated throughout the day.  Or, subscribe to Village Report's free daily newsletter: a compilation of the news you need to know, sent to your inbox at 6AM.

Subscribe