Retail News Breaks Archives
Sale of Canada Safeway to Sobeys gets green light
October 22nd, 2013
PLEASANTON, Calif. – Canada's Competition Bureau has entered into a consent agreement with Sobeys Inc. in which it will be able to proceed with its transaction to buy Canada Safeway Ltd.
Safeway Inc. said Tuesday that the companies expect to close the $5.8 billion (Canadian) deal in early November 2013.
In June, the food and drug retailers announced that Sobeys will buy 213 Safeway supermarkets in western Canada, as well as 199 in-store pharmacies, 62 on-site fuel stations, 10 liquor stores, four distribution centers and related wholesale business, and 12 manufacturing facilities.
The Canada Safeway acquisition will give Sobeys, a subsidiary of Empire Company Ltd., more than 1,500 stores overall. Currently, Sobeys owns or franchises over 1,300 stores in all 10 provinces under such banners as Sobeys, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs, plus more than 260 retail fuel locations.
Sobeys currently has about 250 pharmacies, including the 78 Lawtons locations.