Sobey parent Empire Co. has completed its $800 million acquisition of Ottawa-based grocery chain Farm Boy.
The Farm Boy chain operates 26 locations in Ontario, focusing on fresh and locally sourced food. The stores will remain under the Farm Boy brand, and Farm Boy products will be added to Sobey’s e-commerce offering, the Ottawa Business Journal reports, adding that Farm Boy co-CEOs Jeff York and Jean-Louis Bellemare will stay on under the new management structure.
Empire CEO Michael Medline has said that Farm Boy has great growth potential. Empire says it plans to open 14 Farm Boy locations in the Greater Toronto Area over the next three years and double the brand’s Ontario footprint within five years. Medline has also given assurances that the unique Farm Boy brand identity will be maintained.