Mexico City | Reuters — Cornershop, a Latin American grocery delivery app being acquired by Walmart, plans to expand into Canada early next year as a test market for the U.S., an executive for the three-year-old mobile app said. Walmart is buying Cornershop, which offers deliveries in Mexico and Chile, for US$225 million. The deal, […] Read more
Tag Archives grocery — page 3
Walmart’s LatAm delivery app Cornershop eyes Canada
Sobeys parent to buy fresh-food grocer Farm Boy
The owner of the Sobeys and Canada Safeway chains has a deal in place to buy southern Ontario grocery retailer Farm Boy, a well known patron of the region’s producers. In a deal still subject to review by the federal Competition Bureau, Empire Co. announced Monday it will pay $800 million for the grocery chain, […] Read more
Metro to buy Jean Coutu to stave off looming risks
Toronto | Reuters — Metro Inc., Canada’s third-biggest food retailer, on Monday agreed to buy pharmacy chain Jean Coutu Group for $4.5 billion in cash and stock, paying what analysts said was a “steep” premium to protect against risks facing the retail sector. The deal comes at time when global retail giants like Amazon.com, Wal-Mart […] Read more
Metro in ‘advanced’ talks to buy Jean Coutu chain
One of Eastern Canada’s major players in the grocery sector is in “advanced discussions” to take up one of the region’s major drugstore chains. Montreal-based Metro Inc. announced Tuesday it’s in “exclusive” talks with the Jean Coutu Group on the possibilities of a cash-and-stock takeover valued in some reports at around $4.5 billion. A non-binding […] Read more
Whole Foods slashes prices on some produce
Los Angeles/Chicago | Reuters — On its first day as part of Amazon.com, organic grocery chain Whole Foods Market slashed prices on popular items like avocados and apples on Monday by a third as it bid to shake off its “Whole Paycheque” reputation for high prices. In another sign of changes to come, a display […] Read more
Amazon to cut Whole Foods prices amid intense grocery turf war
Reuters — Amazon.com said Thursday it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market, sending shares of rival grocers tumbling over fears of even more brutal market share battles. Amazon’s $13.7 billion purchase of Whole Foods, which won antitrust approval from U.S. regulators on Wednesday, […] Read more
Sobeys, Safeway parent seeks cost-cutting ‘leverage’
Empire Co., the parent firm for about 1,500 grocery stores across Canada, plans to restructure from a regional to a “largely national” operation cutting $500 million in annual costs by the end of 2020. Nova Scotia-based Empire — whose stores operate under brands including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s — on […] Read more
Pattison takes up B.C. grocery chain Quality Foods
The owner of Save-On Foods and other Canadian grocery chains will expand its overall market share on Vancouver Island with majority control of the Quality Foods chain. The Vancouver-based Jim Pattison Group was announced last week as the new controlling shareholder in Quality Foods, buying up the interests of founding partners Ken Schley and John […] Read more
Loblaw reports better-than-expected profit
Reuters — Canadian grocery and pharmacy retailer Loblaw Cos. Ltd. reported a better-than-expected quarterly profit on Wednesday, as expenses fell and discounting attracted more shoppers. Profit at Loblaw’s main retail unit was helped by lower selling, general and administrative costs, and an increase in same-store sales in the quarter ending Oct. 8, the company said. […] Read more
In surprise move, Target to pull out of Canada
Toronto | Reuters — Target Corp. will abandon its ill-fated expansion into Canada less than two years after launch, the U.S. discount retailer said on Thursday, in a surprise retreat that will put more than 17,000 employees out of work and cost it billions. Shares of Target, which was granted creditor protection for its money-losing […] Read more
Cyber-Savvy Farmer
