Market News
11Aug2006 |
Sobeys to Buy Achille de la ChevrotièreSobeys Inc. has agreed to pay $82 million to acquire the food distribution assets of Quebec-based Achille de la Chevrotière Ltèe. The transaction will see Stellarton, N.S.-based Sobeys gain 25 retail stores in Quebec and Northern Ontario as well as a distribution centre in Rouyn-Noranda, Que. Sobeys is expected to operate the stores, which generate about $270 million in annual sales, under either its IGA or IGA Extra banner. Sobeys said it expects to complete the deal, which is subject to regulatory approval, in its second quarter. Source: Canadian Grocer E-Newsletter, August 11, 2006. 
|