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Sobeys parent Empire names Matt Reindel as chief financial officer

Michael Vels moves to new role of chief development officer

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Sobeys parent buying control of Longo s, Grocery Gateway

Sobeys parent buying control of Longo s, Grocery Gateway Noah Zivitz, BNN Bloomberg VIDEO SIGN OUT The parent company of Sobeys is bulking up in Ontario with an agreement to buy a controlling stake in Longoâs and the Grocery Gateway delivery service. Under the terms of the deal announced early Tuesday, Empire Company Ltd. will initially acquire a 51 per cent stake in Longoâs and Grocery Gateway, with options that could see Empire eventually take full control of the businesses. The initial transaction will see Empire pay $197 million in cash, up to $125 million via the issuance of Class A shares, and also assume $35 million in debt.

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