"It is a unique opportunity to bring together each company's expertise to better serve the growing consumer demand for healthier choices, value and convenience," he said in a conference call. La Fleche said the combined company, which will be a new retail leader in food, pharmacy, health and beauty, will be better able to extend its reach and possible grow in ``other geographies.'' Although the purchase price multiple is higher than Metro has paid, La Fleche said it is worth the premium because the Jean Coutu chain is a high-performing business with leading market share in Quebec. "It's a unique asset and clearly worth the price we paid," he told analysts. The takeover follows Loblaw Companies Ltd.'s (TSX:L) $12.4-billion cash-and-stock deal in 2014 of Shoppers Drug Mart, which operates as Pharmaprix in Quebec. Canadian supermarket chains are beefing up as they compete against Wal-Mart, Costco and Amazon's entry in the grocery space with its purchase of Whole Foods.