Sobeys parent to take controlling stake in Toronto grocer Longo’s and Grocery Gateway

Acquisition expands Empire’s delivery service and strengthens foothold in Ontario

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Sobeys parent Empire Company Ltd announced today that it is buying 51 per cent of specialty grocer Longo’s and the Grocery Gateway e-commerce business.

Longo’s, founded in 1956 by three brothers, has 36 stores in the Greater Toronto Area and the Grocery Gateway delivery business.

Empire will pay $357 million for the stake based on an enterprise value of $700 million. The deal, which is expected to close in the first quarter of 2022, allows Empire to acquire 100 per cent of Longo’s over time.

More to come …