Third Quarter Fiscal 2021 Summary Same-store sales excluding fuel increased by 10.7% Earnings per share of $0.66 an increase of 47% compared to $0.45 last year Project Horizon growth plan on track E-commerce sales growth of 315% 37 FreshCo locations in Western Canada confirmed; 23 stores now open $100 million of shares purchased to date Click […] Sobeys owner Empire Company Ltd. is expanding its presence in Ontario, with a $357-million deal to buy 51 per cent of grocery store chain Longo’s and its e … For more information about cookies and how to disable cookies, visit our privacy commitment. Empire Company Ltd. EMP-A-T says it has signed a deal to buy a 51 per cent stake in specialty grocery store chain Longo’s and its Grocery Gateway e … Sobeys Inc. parent Empire Company Ltd. is set to pass the halfway point in the expansion of its FreshCo discount supermarket format. STELLARTON, NS, March 16, 2021 /CNW/ – Empire Company Limited BB #:137787 announced today that it has signed an agreement to purchase 51% of Longo’s BB #:154544, a long-standing, family-built network of specialty grocery stores in the GTA of Ontario, and the Grocery Gateway e-commerce business.. The company is headquartered in Stellarton, Nova Scotia.Empire Company also owns the Sobeys supermarket chain. Empire Co Ltd key businesses are food retailing, investments, and other operations. It is a wholly owned subsidiary of Empire Company Limited, a Canadian conglomerate. Empire Company Limited is a Canadian conglomerate engaged mostly in food retail and corporate investments. Empire has proven my family’s theory right, as it has announced seven new locations under the FreshCo discount banner, reaching the halfway mark in the company’s Western Canada discount expansion plan, after the announcement of a five-year plan to convert 25 percent of its Safeway and Sobeys stores into FreshCo locations back in 2017. Prior to joining Sobeys in January 2018, Mr. Venton was the Senior Vice President of No Frills Franchise Business and was responsible for the leadership of the 255-store banner – the fastest growing business at Loblaw Companies Limited. In total, the company owns, affiliates or franchises more than 1,500 stores; in addition to Sobeys, brands include Safeway, IGA, Foodland, Farm Boy, FreshCo, Thrifty Foods and Lawtons Drug. The transaction immediately adds two high-quality banners to Empire’s … Venton is responsible for the Company’s discount strategy and leads the Merchandising, Operations and Marketing functions for FreshCo and Price Chopper stores. One of Canada's biggest supermarket chains is positioning itself as Canada's "fair but tough" grocery retailer, reinstating pay bonuses for front-line workers and refusing to unilaterally impose fee increases on suppliers. Sobeys’ parent company Empire Co. Ltd. will acquire a majority stake in a popular Southern Ontario supermarket chain Longo Brothers Fruit Markets Inc., the companies announced on Tuesday. The company is headquartered in Stellarton, Nova Scotia. Empire Company Ltd. says it earned a profit of $176.3 million in its most recent quarter, up from $120.5 million a year earlier, boosted by higher sales. Vittoria Varalli is Vice President, Sustainability and Chief of Staff, Office of the CEO for Sobeys Inc., a leading Canadian grocery retailer and food distributor. Empire Company Ltd. has signed a deal to buy a majority stake in specialty grocery store chain Longo's and its Grocery Gateway e-commerce business for $357 million. Empire’s third-quarter net earnings were $176.3-million or 66 cents per share, up from $120.5-million or 45 cents per share in the same period last year. Longo’s 36 supermarkets and its Grocery Gateway e-commerce business have been sold to Empire Company Ltd., the parent company of Sobeys which is Canada’s second-largest supermarket chain. Empire issued a combination of cash and Non-Voting shares to the shareholders of Sobey Holdings Limited for consideration of this purchase. Empire Company Ltd., an umbrella company for Safeway, Sobeys and numerous other grocery chains, has aggressively expanded into Western Canada in the past year. The company was founded in 1963. Empire Company Ltd., the parent of Sobeys, today unveiled Project Horizon, a new three-year strategy to boost market share and “win Canadian grocery e-commerce.” Empire Co. has reached a deal to buy a 51 per cent stake in the Longo’s specialty grocery store chain and its Grocery Gateway e-commerce business for $357 million.The parent company of Sobeys said the deal, which was announced on Tuesday, will add "two high-quality banners" to its store network and "furthers Empire's strategic goal of growing its market presence in Ontario.” The deal announced on Tuesday adds 36 Longo’s stores in the Greater Toronto Area and Southern Ontario to Empire’s retail portfolio. Mr. Medline is a proven leader with a strong track record of success in Canadian retail. Vittoria is accountable for researching and developing Board and Executive Committee materials, facilitating the flow of information across initiatives and functions and completing work that advances the company’s priorities. Empire Company Ltd., the parent company of Sobeys, today unveiled Project Horizon, a new three-year strategy to increase market share and “win Canadian grocery e-commerce.” Empire said on Wednesday that the plan builds on Project Sunrise, its three-year strategy launched at the end of fiscal 2017 to simplify its organizational structure and reduce costs. Empire Company also owns the Sobeys supermarket chain. Empire Company, the parent that oversees the Sobeys brand, has reached an agreement to purchase a 51 per cent stake in Longo's for a $357 million. The price is $357 million for 51 per cent ownership. On Jan. 25, it released a statement disclosing that six Safeway locations in Alberta, including St. Albert’s Gateway Village Mall location on Hebert Rd., would be converted to FreshCo grocery stores. Sobeys owner Empire Company Ltd. is expanding its presence in Ontario, with a $357-million deal to buy 51 per cent of grocery store chain Longo’s and its e-commerce service, Grocery Gateway. Empire Company looks to set itself apart through pay bonuses, supplier relations. The company was founded in 1963. Sobeys Inc. is the second largest food retailer in Canada, with over 1,500 stores operating across Canada under a variety of banners.Headquartered in Stellarton, Nova Scotia, it operates stores in all ten provinces and accumulated sales of more than $25.1 billion CAD in the fiscal 2019 operating year. The Stellarton, N.S.-based… Joining the company after graduating university in 1991, Mr. St-Laurent has spent his career at Sobeys and has developed a breadth of experience and extensive business knowledge through progressively senior roles in finance, distribution and logistics, retail operations, and business development. We have updated our privacy commitment and are now collecting cookies to provide you with ads tailored to your interest across the internet. Empire, together with its current Non-Voting shareholdings in Sobeys, now controls 95% of Sobeys Voting shares and a combined 50.97% equity interest in Sobeys. Sobeys’ parent Empire Co. announced Tuesday that it has reached an agreement to buy 51 per cent of independent grocery chain Longo’s and its online service Grocery Gateway in a … Michael Medline is President & Chief Executive Officer of Empire Company Limited (Empire) and its wholly-owned subsidiary Sobeys Inc., a leading Canadian grocery retailer and food distributor.
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