The British-Canadian entrepreneur was one of Canada’s wealthiest men having brought the family business back from the brink
One of Canada’s wealthiest and most successful entrepreneurs has died after a long illness.
W. Galen Weston was 80 and leaves a legacy of daring business prowess that saw him significantly expand the family empire and revive the fortunes of a once-struggling Loblaws.
From food, retail, and real estate, Weston remained at the helm of the family business George Weston Limited until 2016 but continued his philanthropy through the Weston Family Foundation, the Weston Brain Institute, and many other organizations.
Born in the UK, Weston moved first to Ireland and set up a retail business with backing from his grandmother. But when the retail business owned by his family, Loblaws, was in financial crisis in the 1970s, he moved to Canada to revive its fortunes.
Over the next five decades, Weston guided that business to grow into a Canada’s largest grocery chain, while other interests also thrived including the luxury retail brands Selfridges, and Fortnum & Mason.
Weston also bought and revived the Holt Renfrew brand, launched President’s Choice, and founded resorts in Florida and the UK.
"The luxury retail industry has lost a great visionary,” said Alannah Weston, Chairman, Selfridges Group. “His energy electrified those of us who were lucky enough to work alongside him to reimagine what customer experience could be."
Despite an international real estate portfolio, he was dedicated to Toronto and the family’s Forest Hill home hosted members of the royal family from time to time.
Family investments
The business that Weston built in Ireland is now part of Associated British Foods (ABF), a London-listed firm, and the family holdings are managed through Wittington Investments.
Along with ABF, the firm also has investments in Canada, Ireland, and the Netherlands, spanning retail, real estate, and debt and equity securities in private and public markets.
The family is one of Canada’s richest with an estimated fortune of $10.7 billion. The empire has been led by W. Galen Weston’s son Galen for several years.
"My father's greatest gift was inspiring those around him to achieve more than they thought possible. In our business and in his life he built a legacy of extraordinary accomplishment and joy," said Galen G. Weston, Chairman and CEO, George Weston Limited.
