The acquisition of Safeway Inc.'s Canadian division by Sobeys won't change the makeup of grocery stores in Canmore — yet.
The acquisition of Safeway Inc.’s Canadian division by Sobeys won’t change the makeup of grocery stores in Canmore -
yet.
Sobeys vice-president of communications and corporate affairs Andrew Walker said Friday (June 14) the company is excited about the deal, but until the Competition Bureau of Canada reviews the purchase not much more can be determined about how it will affect places like Canmore, which has a Safeway and a Sobeys.
“We announced the acquisition on Wednesday (June 12) and we are delighted with it, ” Walker said. “It is with the competition bureau right now, so there isn’t a lot more than we can say, but we made this acquisition to keep as many stores as we can. ”
He said the company expects the review process to take four to five months. Because of the size of the deal and the number of stores involved, the Competition Bureau is required to undertake a review and its decision may direct Sobeys on if there are stores that have to be sold.
“We anticipate getting a decision in the fall so right now we continue as competitors, ” Walker said.
Sobeys purchased Safeway Inc.’s Canadian division this week for $5.8 billion. The deal could add 213 stores to Sobeys chain, which already owns or franchises 1,300 stores.
