Overwaitea Food Group Signs Purchase Agreement with Sobeys Inc.
Canada NewsWire
VANCOUVER, Feb. 13, 2014
15 Grocery Stores across BC and Alberta to be purchased
VANCOUVER, Feb. 13, 2014 /CNW/ – The Overwaitea Food Group (OFG) is
pleased to announce the purchase of 15 store locations in British
Columbia and Alberta from Sobeys Inc.
As part of Sobeys’ acquisition of Canada Safeway, Canada’s Competition
Bureau required divestiture of a number of their locations. Overwaitea
Food Group entered into discussions with Sobeys which resulted in the
agreement to purchase a total of 15 high-quality community stores.
The stores to be acquired include:
| Safeway – Sidney | Safeway – Tsawwassen | |||||
| Safeway – Tillicum, Victoria | Safeway – Royal City, New Westminster | |||||
| Safeway – University Heights, Victoria | Thrifty Foods – New Westminster | |||||
| Safeway – Foul Bay, Victoria | Thrifty Foods – Abbotsford | |||||
| Safeway – Duncan | Sobeys – Canmore | |||||
| Safeway – Ladysmith | Sobeys – Cochrane | |||||
| Thrifty Foods – Brooks Landing, Nanaimo | Safeway – Thickwood, Fort McMurray | |||||
| Safeway – Port Alberni | ||||||
“We are thrilled to be able to welcome these stores, along with their
existing team members and customers to our Group,” says Darrell Jones,
president. “As a local grocer our philosophy is to tailor our stores
and the mix in those stores to suit the needs of our customers and
their communities. We rely on the folks who work in each of our stores
to help us understand and deliver that. By welcoming more than 1,500 of
the best grocers in North America to our team, we are in a great
position to continue growing our business in these locations,” he
added.
As part of this significant investment in the future of the Overwaitea
Food Group, 14 store locations will be transitioned to the
Save-On-Foods banner and 1 to the Cooper’s Foods banner.
“This acquisition adds significantly to Save-On-Foods’ existing presence
in both BC and Alberta and positions us for further growth in these
provinces and beyond,” added Jones. “We’ve been successful for 100
years because we care about one thing above everything else: doing
what’s right for our customers, where they live. We look forward to
continuing this commitment in each of these new locations.”
about the Overwaitea Food Group
The Overwaitea Food Group (OFG) got its’ name nearly a century ago from
customers who were happy to get “Over-Weight-Tea” (18 ounces for the
price of 16) every time they bought a pound. Today, OFG is Canada’s
largest Western-based food store chain, feeding families in over 100
communities across British Columbia and Alberta. Its first store
originally located in New Westminster, BC, OFG currently operates 129
stores under the Save-On-Foods, Overwaitea Foods, Cooper’s Foods, Urban
Fare, PriceSmart Foods and Bulkley Valley Wholesale banners. With the
support of more than 14,000 team members, OFG proudly provides
customers with great local value in unique and innovative ways.
about Save-On-Foods
With 80 stores in BC and 28 stores in Alberta, Save-On-Foods is an
award-winning grocery store format in Western Canada, with a reputation
for innovation and delivering an exceptional grocery shopping
experience. At Save-On-Foods, you’ll find everything you need at the
low prices you want – with quality, selection and service you can’t put
a price on.
about Cooper’s Foods
With community at the forefront, Cooper’s Foods continues to build
strong connections to its customers by over-delivering on friendly and
helpful service because “Cooper People Care.” All 14 locations across
British Columbia share the same devotion to customers, team members and
community that began over 50 years ago with their first store in
Revelstoke, BC.
SOURCE Overwaitea Food Group
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