Sobey's parent Empire Co to buy Safeway Canada for C$5.8 billion

Published June 12, 2013

| Reuters

Empire Company Ltd , parent of Canada's No. 2 grocer Sobey's, said on Wednesday it is acquiring the Canadian arm of Safeway Inc. for C$5.8 billion ($5.70 billion) in cash.

Empire said the deal, one of the biggest in the Canadian retail sector this year, includes 213 full service grocery stores under the Safeway banner in Western Canada. It said the acquisition will add to adjusted net earnings per share once the cost savings are fully realized.

($1 = $1.0183 Canadian)

(Reporting by Solarina Ho; Editing by Jeffrey Hodgson)

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