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Empire closes Longo's acquisition, sets new FreshCo locations


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. ....

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The Giant Company plans to add 4 more locations in Philadelphia


The Giant Company plans to add 4 more locations in Philadelphia
Amazon issues $1bln sustainability bond
Amazon is backing up its environmental initiatives with a new $1bln bond focused on funding projects in 5 key sustainability areas. The e-tail giant will use proceeds from the bond to build on investments it has made over the years in renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement & empowerment. The bond will enable investors to join Amazon in its social and environmental efforts.
US: More Philadelphia stores on the way from The Giant Company
Following the recent opening of a new flagship store, The Giant Company has unveiled plans to add 4 more locations in Philadelphia, which would raise its total to 10 stores in the city. Carlisle, Pennsylvania-based Giant said that new Philadelphia stores in the works include a 32,000-square-foot Giant Heirloom Market specialty grocery store at 801 Market St. i ....

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