Thursday, December 18th3.8°C
24295

Loblaw Companies buys Arz Fine Foods, a Middle Eastern grocery store in Toronto

BRAMPTON, Ont. - Loblaw Companies Ltd. (TSX:L) is expanding its exposure to the ethnic food market with the purchase of Arz Fine Foods, a Middle Eastern grocer in Toronto.

Terms of the deal for the business, which includes a 10,000-square-foot store, commercial bakery, food commissary, and distribution centre, were not immediately available.

Loblaw said Arz, which was started in 1989 as a specialty bakery ,will operate as a unique division within the big grocery retailer.

"This key partnership holds great promise as Canada's Middle Eastern population and the Canadian taste for Middle Eastern food continues to grow," Loblaw president Vicente Trius said.

"The combination of Arz Fine Foods and Loblaw will follow the same approach used with our T&T business, which introduced ethnic expertise and products into our broader business in a very authentic way."

Loblaw bought Asian grocery chain T&T Supermarket Inc. in 2009 for $225 million.

RBC Capital Markets analyst Irene Nattel called the Arz deal "very small" but noted its strategic importance.

"Ethnic is one of the most rapidly growing segments in food retail, and the acquisition of Arz complements Loblaw's prior T&T acquisition and should enhance Loblaw's offering in its existing store base," Nattel wrote in a report to clients.

"One of the benefits Loblaw quickly identified with T&T was the degree to which it opened doors to suppliers previously not known to Loblaw, but which cater to T&T's distinct customer base and can be extended to the more traditional food retail banners. We expect this to be the case with Arz as well."

The Canadian Press


Read more Business News

23981


Recent Trending




Today's Market
S&P TSX14346.75+133.36
S&P CDNX665.50+6.47
DJIA17778.15421.28
Nasdaq4748.396+104.085
S&P 5002061.23+48.34
CDN Dollar0.8642+0.0008
Gold1198.50+3.80
Oil54.64+0.53
Lumber336.00-0.90
Natural Gas3.674+0.032

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.28+0.01
Cantex0.03-0.005
Anavex Life Sciences0.17+0.0041
Metalex Ventures0.055+0.005
Russel Metals26.00-1.18
Copper Mountain Mining1.57+0.03
Colorado Resources0.12+0.015
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.225+0.005

 
23744


23405

FEATURED Property
21065591809 OLYMPUS Way
4 bedrooms 3 baths
$409,400
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_





24111


Member of BC Press Council