With Save-On Foods set to make its entry into the Calgary market later this year, its billionaire owner says the blockbuster purchase of Safeway Canada by Sobeys Inc. could open other opportunities for his B.C.-based chain.
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CALGARY — Sobeys could be forced to sell stores in Alberta as a result of its blockbuster deal to buy Canada Safeway, says an analyst.
In a research report, Andrew Calder, analyst with RBC Dominion Securities Inc., said the $5.8 billion deal will likely see a close review from the Competition Bureau, which could take up to four or five months.
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It is like moving from a small apartment to a house almost three times the size. It is a move from an old building, IGA, that is slightly under 18,000 square feet to a brand new building, Sobeys, that is 40,000 square feet stocked with brand new furniture. And the owners/managers, Dawn and Barry Metcalfe, couldn’t be happier of the June 7 grand opening.
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