Agrees to divest 23 stores
STELLARTON, NS, Oct. 22, 2013 /CNW/ - Sobeys Inc. today announced that it has signed a consent agreement with the Canadian Competition Bureau allowing it to proceed with the acquisition of substantially all of the assets of Canada Safeway.
"We are delighted to have received regulatory clearance from the Competition Bureau," said Marc Poulin, President & CEO, Sobeys Inc. "Our focus now turns to closing the deal, which we expect to do in early November, and beginning to serve our customers in Western Canada as one company."
As part of the consent agreement, Sobeys will divest the following 23 stores:
|British Columbia||Sidney||Safeway||2345 Beacon Ave.|
|British Columbia||Victoria||Safeway||3958 Shelbourne St.|
|British Columbia||Victoria||Safeway||1950 Foul Bay Rd.|
|British Columbia||Tsawwassen||Safeway||1143 - 56 St.|
|British Columbia||New Westminster||Thrifty Foods||270 East Columbia St.|
|Alberta||Edmonton||Safeway||2331 - 66 St. NW|
|Alberta||Edmonton||Sobeys||18370 Lessard Rd.|
|Alberta||Edmonton||Sobeys||5036 -106 Ave. NW|
|Alberta||Edmonton||IGA||6204 - 90 Ave. NW|
|Alberta||Fort McMurray||Safeway||131 Signal Rd.|
|Alberta||Fort Saskatchewan||Sobeys||10004 - 99 Ave.|
|Alberta||Leduc||Sobeys||5421 - 50 St.|
|Alberta||Wetaskiwin||Sobeys||4703 - 50 St.|
|Alberta||Canmore||Sobeys||950 Railway Ave.|
|Alberta||Cochrane||Sobeys||65 Bow St.|
|Alberta||Taber||Safeway||4926 - 46 Ave.|
|Saskatchewan||Regina||Safeway||3801 Albert St.|
|Saskatchewan||Saskatoon||Safeway||3310 - 8 St. E.|
|Manitoba||Winnipeg||Safeway||1441 Main St.|
|Manitoba||Winnipeg||Safeway||77 Vermillion Rd.|
|Manitoba||Winnipeg||Safeway||850 Dakota St.|
|Manitoba||Winnipeg||Safeway||1120 Grant Ave.|
|Manitoba||Winnipeg||Price Chopper||677 Stafford St.|
Both the number of stores to be divested and the expected overall economics of all asset dispositions are reasonably consistent with the company's expectations.
About Empire Company Limited
Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses include food retailing and related real estate. With over $17 billion in annual sales and approximately $9.0 billion in assets, Empire and its subsidiaries directly employ approximately 47,000 people.
About Sobeys Inc.
Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians for 106 years. A wholly-owned subsidiary of Empire Company Limited (TSX: EMP.A), Sobeys owns or franchises more than 1,300 stores in all 10 provinces under retail banners that include Sobeys, IGA, Foodland, FreshCo, Thrifty Foods, Lawton's Drug Stores as well more than 260 retail fuel locations. Sobeys and its franchise affiliates employ more than 95,000 people. The company's goal is to be widely recognized as the best food retailer and workplace environment in Canada. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.
This news release contains forward-looking information reflecting management's expectations regarding the sale of assets by Sobeys. The forward-looking statements in this news release are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from current expectations. No assurance can be given on the terms or timing of such asset sales, which remain subject to negotiation with third parties. The Company does not undertake to update any forward-looking statements that may be made from time to time by them or on their behalf other than as required by applicable securities laws.
SOURCE: SOBEYS INC.
For further information:
Communications & Corporate Affairs
Investor Relations Contact
Chief Financial Officer
(902) 752-8371 ext. 2220