Sobeys signs deals to sell 30 stores in Western Canada
Overwaitea Food Group buys 15 locations, Federated Co-operatives Ltd. buys 14
Sobeys Inc. has signed deals to sell 30 stores in Western Canada for a total of roughly $430 million.
The Nova Scotia-based grocery store chain was required to sell 23 stores as part of an agreement with the Competition Bureau in connection with its purchase of Canada Safeway last year.
Sobeys says British Columbia-based Overwaitea Food Group has agreed to buy 15 locations, while Federated Co-operatives Ltd. has agreed to buy 14 stores.
The company has also signed a deal to sell its Price Chopper location in Winnipeg to another, unidentified buyer.
Sobeys said Overwaitea and the Co-op chain have received approval from the Competition Bureau and that it anticipates the deals will close in March or early April.
The sale of the Winnipeg Price Chopper store is subject to finalization of an agreement and approval from the Competition Bureau.