Cochrane will be the newest location of a Save-On-Foods, as the Competition Bureau approved the sale of 15 Sobeys Inc. grocery stores to Overwaitea Food Group.
The purchase agreement was announced Feb. 13 and includes stores in British Columbia and Alberta. It was stated in a press release that Sobeys anticipates the agreement will close in March or early April.
Along with the Sobeys in Cochrane, the food group also acquired the Sobeys in Canmore and a Safeway in Fort McMurray.
“This acquisition adds significantly to Save-On-Foods’ existing presence in both B.C. and Alberta and positions us for further growth in these provinces and beyond,” stated Darrell Jones, president of Overwaitea Food Group, in a media release.
As part of Sobeys’ acquisition of Canada Safeway, the Competition Bureau required divestiture of 23 of their locations. The consent agreement was filed in October 2013.
Andrew Walker, senior vice president of communications and corporate affairs at Sobeys Inc., said it’s “business as usual” at the Cochrane Safeway location, which — for the time being — will remain a Safeway.
“At this point, we’ve made no decisions around branding with our Safeway stores in Western Canada,” said Walker. “We have been focusing on integration of other aspects. Branding is not an immediate priority.”
In addition to the 15 stores to be purchased by Overwaitea Food Group, Sobeys agreed to sell 14 stores to Federated Co-operatives Limited on behalf of the Co-operative Retailing System.
Overwaitea Food Group is Canada’s largest Western-based food store chain, setting up shop in more than 100 communities throughout Alberta and British Columbia.
The group operates stores under the following banners: Save-On-Foods, Overwaitea Foods, Cooper’s Foods, Urban Fare, Pricesmart and Bulkley Valley Wholesale.
