Sobeys agrees to acquire food distributor
Aug 11, 2006 8:47 AM, from staff and wire reports
Sobeys Inc has agreed to purchase virtually all of the food distribution assets of Achille de la Chevrotière Ltée and its associated companies (ADL). An independent food distributor, ADL mainly serves the Abitibi-Temiskaming region of Quebec and northern Ontario.
This transaction includes 25 retail store operations, distribution facilities in Rouyn-Noranda, and other wholesale supply agreements. Purchase price for the acquisition is around $82 million.
Completion of the transaction should occur during the company’s second quarter, depending on regulatory approval and due diligence.
Based in Stellarton, Nova Scotia, Sobeys owns or franchises about 1,300 stores in all 10 Canadian provinces with retail banners including Sobeys, IGA, and Price Chopper.
