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    Sobey's to Buy Food Distribution Biz

    STELLARTON, N.S. -- Food retailer and distributor Sobeys, Inc. here yesterday reached an agreement to purchase the food distribution assets of Achille de la Chevrotiere Ltee (ADL), an independent food distributor operating primarily in the Abitibi-Temiskaming region of Quebec and northern Ontario.

    STELLARTON, N.S. -- Food retailer and distributor Sobeys, Inc. here yesterday reached an agreement to purchase the food distribution assets of Achille de la Chevrotiere Ltee (ADL), an independent food distributor operating primarily in the Abitibi-Temiskaming region of Quebec and northern Ontario.

    The business includes 25 retail store operations, other wholesale supply agreements, and distribution facilities in Rouyn-Noranda, Que. The most recent aggregate annual sales from these assets were approximately $270 million, and the purchase price for the acquisition is about $82 million.

    The transaction is expected to close during Sobey's second quarter.

    Sobeys owns or franchises approximately 1,300 stores in all 10 Canadian provinces under such retail banners as Sobeys, IGA extra, IGA, and Price Chopper.

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