Empire Co. Ltd, the company that owns Sobeys, IGA, Foodland, Frechco and Thrifty Food, has just announced that they have purchased all 213 of the Safeway stores in Canada! They paid $5.8 BILLION, Included in the deal are the 199 Safeway pharmacies and 62 Safeway gas stations , as well as 10 liquor stores, 4 distribution centers and 12 manufacturing facilities.
60% of the stores bought are located in Vancouver, Calgary, Edmonton and Winnepeg. Empire CEO said today they expect to cut administration and marketing costs by combining management teams, but refused to comment on whether or not current Safeway employees could face layoffs.[sc:divider ]