Canadian government approves Sobey’s-Safeway purchase

Toronto – Sobey’s Inc. has signed a consent agreement with the Canadian Competition Bureau allowing it to proceed with the acquisition of substantially all of the assets of Canada Safeway.

As part of the consent agreement, Sobey’s will divest 23 stores in the provinces of Alberta, British Columbia, Manitoba and Sasketchewan. The deal, announced in June, will cost Sobey’s owner Empire Co. Ltd. about $5.7 billion.

“We are delighted to have received regulatory clearance from the Competition Bureau,” said Marc Poulin, president & CEO, Sobeys Inc. “Our focus now turns to closing the deal, which we expect to do in early November, and beginning to serve our customers in Western Canada as one company.”