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Empire pays $9M lockdown bonuses, sales dip compared with early pandemic stockpiling - Medicine Hat NewsMedicine Hat News
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We re bullish but we re realists too: Empire prepares for more stable grocery sales
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Empire has completed the purchase of 51% of Longo s
US: Kroger to participate in virtual BMO 16th Annual Farm to Market Conference
The Kroger Co. announced that Gary Millerchip, Kroger s CFO, will address investors at the virtual BMO 16th Annual Farm to Market Conference at 8:00 a.m. ET on Wednesday, May 19, 2021. The presentation will broadcast online at ir.kroger.com. Click on Events & Presentations to access the event. The presentation will be available in an archived format following the conference.
US: Whole Foods announces growth plans, organizational changes
Amid the nation’s slow return to normalcy - in a market impacted by pandemic-related shifts and still tinged with uncertainty - Whole Foods Market has shared some of its growth strategies for the future. In an announcement, Whole Foods reiterated the importance of access to high quality groceries and disclosed some ways that the retailer plans to move ahead across the organization. For example, more than 40 new sto
Sobeys parent adds new fresh market chain and grows discount grocery banner
Empire Company Ltd., the parent of Sobeys Inc., has closed its acquisition of a majority stake in fellow Canadian grocer Longo’s and announced new locations for its FreshCo discount supermarket banner.
Stellarton, Nova Scotia-based Empire said this week it completed the $357 million (Canadian) purchase of 51% of Longo’s issued and outstanding shares, based on a total enterprise value of $700 million. Five years after the transaction, Longo’s shareholders will have an option to sell up to a 12.25% interest to Empire per year, and 10 years after the deal, Empire and Longo’s have options for outstanding minority shares. The Longo family plans to remain long-term shareholders in the business, Empire reported.
Canadian retailer commits to offering exclusively Fairtrade bananas
Grocery retailer Longo’s Brothers Fruit Market has committed to offering only Fairtrade bananas in its 36 stores and through delivery on Grocery Gateway. This is made possible through a partnership with Equifruit. The decision sets a standard for sustainable produce supply chains in North America and is aligned with Fairtrade Month, which takes place each May in Canada.
With this commitment, Longo’s ensures that the farmers and communities where its bananas are sourced are guaranteed a fair and sustainable income and that farmers get financial and technical support to lower their impact on the environment. For Longo’s, a commitment to Fairtrade bananas comes as the latest in a long line of sustainability initiatives centered around environmental stewardship, responsible sourcing and healthy communities, including waste diversion, use of renewable energy and community donations.
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