Norseland - Jarlsberg - Best Premium Specialty Cheese Brands - Best in class - IDDBA Booth 2156
Visit us at IDDBA Booth #1510
Celebrating Goat Cheese as it Should be
Sobeys Reveals Plans for Farm Boy Banner's Toronto Takeover

Sobeys Reveals Plans for Farm Boy Banner's Toronto Takeover


TORONTO, ON, CANADA
Thursday, March 14th, 2019

Sobeys’ parent company, Empire Co, is feeling real confident about bringing its Farm Boy banner to the big cities. After acquiring the boutique grocery banner late last year, Empire is looking to broaden Farm Boy’s growth beyond Ontario. In a call with analysts earlier this week, Empire’s President and CEO Michael Medline revealed a Toronto Takeover could be in the cards as the company continues the strong upward momentum of its third quarter fiscal 2019.

Michael Medline, CEO, Empire Company Limited“We’ve never had a weapon like this to go at an area like the [Greater Toronto Area],” Medline said to analysts. “Ontario has historically been our Achilles heel.”

Medline went on to reveal that he believes the company can eventually “blanket” Toronto and its suburbs with Farm Boy stores, if Empire wields its “real estate prowess” correctly, according to a report by the Financial Post. Farm Boy currently operates 28 stores in Ontario, with its Toronto network just unfurling now.

Empire is looking to broaden Farm Boy’s growth beyond Ontario

Earlier this week, Empire announced its financial results from its third quarter of its fiscal 2019 year, ended February 2, 2019, citing strong sales momentum and its third consecutive quarter of tonnage growth. In addition, the company reported the following highlights:

  • $6.24 billion in sales, which is $218 million more than last year
  • Adjusted net earnings of $72.9 million, compared to $89.9 million last year
  • Same-store sales increased by 3.3%
  • 12 FreshCo locations confirmed to open in British Columbia and Manitoba in calendar 2019

“Our execution continued to improve this quarter, building on our run of positive tonnage growth and strong same-store sales across the country. Sales were the strongest we have seen in almost ten years,” Medline said in a press release. “At the same time, the strategic building blocks of our plan continue to fall into place, with momentum on our FreshCo discount expansion plan, very strong performance of our recent Farm Boy acquisition, and on-track development of our e-commerce platform in the Greater Toronto Area.”

Will Farm Boy become the grocery face of Toronto? If Empire and Medline have anything to do with it, it appears to be a yes. Deli Market News will continue to report on all expansion efforts as they relate to deli, dairy, bakery, and specialty foods.

Empire CompanyFarm Boy
Topics:


Norseland - Jarlsberg - Best Premium Specialty Cheese Brands - Best in class - IDDBA Booth 2156Visit us at IDDBA Booth #1510Celebrating Goat Cheese as it Should be

Have a new product, press release or story idea?

Let us know

In This Story


We're focused on food, driven by fresh and superior customer service.

NMPF Celebrates Lifting of Tariffs Against U.S. Dairy; Hard Work Remains on Trade

The National Milk Producers Federation's President and CEO Jim Mulhern discusses a win for the dairy industry.
View Press Release