Market News
14Aug2006 |
Sobeys makes move into QuebecSobeys Inc. announced [August 9] it will buy the distribution assets of Quebec-based Achille de la Chevrotiere and its associated companies ADL. The company will pay $82 million and will close the deal during the second quarter, pending regulatory approval, it said. Included in the purchase are 25 retail stores, other wholesale supply agreements and distribution facilities. Sobeys said the aggregate annual sales from the assets it has purchased were $270 million. The Sobeys name will not be placed on the newly purchased stores. IGA, IGA Extra, Marche Bonichoix banners will go up. Source: Halifax Daily News/CFIG E-News, August 14, 2006. 
|