Empire Company: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
More specifics, update, citation
Citation bot (talk | contribs)
Bots
4,941,099 edits
Altered archive-url. URLs might have been anonymized. | Use this bot. Report bugs. | Suggested by Eastmain | Linked from User:YUL89YYZ | #UCB_webform_linked 268/2375
 
(41 intermediate revisions by 29 users not shown)
Line 1: Line 1:
{{short description|Canadian conglomerate}}
{{third-party|date=April 2015}}
{{third-party|date=April 2015}}
{{Infobox company
{{Infobox company
| name = Empire Company Limited
| name = Empire Company Limited
| logo = Empire Company logo.svg
| logo = Empire Company logo (2022).svg
| logo_size = 200px
| logo_size =
| logo_caption = Logo since 2022
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| genre =
| genre =
| traded_as = {{tsx|EMP.A}}
| traded_as = {{tsx|EMP.A}}
| foundation = {{start date and age|df=yes|1963}}
| foundation = {{start date and age|df=yes|1963}}
| founder =
| founder =
| location_city = [[Stellarton]], [[Nova Scotia]]
| location_city = [[Stellarton]], [[Nova Scotia]]
| location_country = Canada
| location_country = Canada
| location =
| location =
| locations =
| locations = 1500 stores, 350 retail fuel(2020)
| area_served =
| area_served =
| key_people = Michael Medline, President and CEO
| key_people = [[Michael Medline]], President and CEO
| industry = [[Conglomerate (company)|Conglomerate]]/ [[Holding company]]
| industry = [[Conglomerate (company)|Conglomerate]]/ [[Holding company]]
| brands = Compliments
⚫
| revenue = {{increase}} $20.993 billion [[Canadian dollar|CAD]] (2014)
| operating_income = {{decrease}} $328.5 million CAD (2014)
| revenue = {{increase}} $26.588 billion [[Canadian dollar|CAD]] (2019)
| net_income = {{decrease}} $235.4 million CAD (2014)
| operating_income = {{increase}} $1,111.8 million CAD (2019)
| assets = {{increase}} $12.238 billion CAD (2014)
| net_income = {{increase}} $612.8 million CAD (2019)
⚫
| assets = {{increase}} $14,632.9 billion CAD (2019)
| equity = {{increase}} $5.7003 billion CAD (2014)<ref name="report">{{cite web|url=http://www.empireco.ca/site/media/Empireco/EmpireAR14_SEDAR%20secured(1).pdf |title=2014 Annual Report|publisher=Empire Company Limited |accessdate=2015-07-11}}</ref>
| equity = {{Decrease}} $3.924 billion CAD (2019)<ref name="report">{{cite web |url=https://www.empireco.ca/wp-content/uploads/2020/07/2020-Empire-AR-English-SEDAR.pdf |url-status=dead |title=Archived copy |access-date=2020-09-11 |archive-date=2020-09-10 |archive-url=https://web.archive.org/web/20200910033150/https://www.empireco.ca/wp-content/uploads/2020/07/2020-Empire-AR-English-SEDAR.pdf }}</ref>
| num_employees = 34,637 (2008)<ref name=zenobank>{{cite web |url=http://zenobank.com/index.php?symbol=CA;EMP.A&page=quotesearch|title=Company Profile for Empire Company Ltd (CA;EMP.A) |accessdate=2008-10-08}}</ref>
| num_employees = 127,000 (2020)<ref name=empireco>{{cite web|url=https://www.empireco.ca/wp-content/uploads/2020/07/2020-Empire-AR-English-SEDAR.pdf|title=Archived copy|access-date=2020-09-11|archive-date=2020-09-10|archive-url=https://web.archive.org/web/20200910033150/https://www.empireco.ca/wp-content/uploads/2020/07/2020-Empire-AR-English-SEDAR.pdf|url-status=dead}}</ref>
| parent =
| divisions =
| parent =
| divisions =
| subsid = [[Sobeys]]<br>[[Crombie REIT]]<br>[[Safeway (Canada)|Safeway]]<br>[[FreshCo]]<br>[[Foodland (Canada)|Foodland]]<br>[[Price Chopper (Canada)|Price Chopper]]<br>[[Needs Convenience]]<br>[[Lawtons]]<br>[[IGA (supermarkets)|IGA / IGA Extra]]<br>Marché Bonichoix<br>Marché Tradition<br>Rachelle-Béry<br>[[Thrifty Foods]]<br>[[Pete Luckett|Pete's Frootique]]<br>[[Big 8 Beverages]]
| subsid = [[Sobeys]]<br>[[Crombie REIT]]<br>[[Safeway (Canada)|Safeway]]<br>[[Farm Boy]]<br>[[FreshCo]]<br>[[Foodland (Canada)|Foodland]]<br>[[Needs Convenience]]<br>[[Lawtons]]<br>[[IGA (supermarkets)|IGA / IGA Extra]]<br>Marché Bonichoix<br>Marché Tradition<br>Rachelle-Béry<br>[[Thrifty Foods]]<br>[[Pete Luckett|Pete's Frootique]]<br>[[Big 8 Beverages]]<br>[[Longo's]]
⚫
| homepage = [http://www.empireco.ca www.empireco.ca]
| footnotes =
| rating = BB+
⚫
| homepage = [http://www.empireco.ca www.empireco.ca]
⚫
| intl =
| footnotes =
⚫
| intl =
}}
}}


'''Empire Company Limited''' is a Canadian [[Conglomerate (company)|conglomerate]] engaged mostly in food retail and corporate investments. The company is headquartered in [[Stellarton]], [[Nova Scotia]]. Empire Company also owns the [[Sobeys]] [[supermarket]] chain. The company was founded in 1963.<ref>[http://www.empireco.ca/en/home/aboutus/default.aspx Company website]</ref> In total, the company Sobeys owns, affiliates or franchises more than 1,500 stores; brands include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods and Lawtons Drugs.<ref>{{Cite web|url=https://www.supermarketnews.com/retail-financial/empire-buy-farm-boy-chain-800-million| title=Empire to buy Farm Boy chain for $800 million -
'''Empire Company Limited''' is a Canadian [[Conglomerate (company)|conglomerate]] engaged mostly in food retail and corporate investments. Founded in 1963, the company is headquartered in [[Stellarton]], [[Nova Scotia]] and owns the [[Sobeys]] [[supermarket]] chain.<ref>{{Cite web |url=http://www.empireco.ca/en/home/aboutus/default.aspx |title=Company website |access-date=2013-06-13 |archive-date=2016-12-02 |archive-url=https://web.archive.org/web/20161202072207/http://www.empireco.ca/en/home/aboutus/default.aspx |url-status=dead }}</ref> In total, the company owns, affiliates or franchises more than 1,500 stores; in addition to Sobeys, brands include [[Safeway (Canada)|Safeway]], [[IGA (supermarkets)|IGA]], [[Foodland (Canada)|Foodland]], [[Farm Boy]], [[FreshCo]], [[Thrifty Foods]] and [[Lawtons|Lawtons Drug]].<ref>{{Cite web|url=https://www.supermarketnews.com/retail-financial/empire-buy-farm-boy-chain-800-million| title=Empire to buy Farm Boy chain for $800 million - Sobeys parent aims to accelerate fresh market's expansion
⚫
| date=2018-09-24|work=Supermarket News|access-date=2018-09-27}}</ref>
Sobeys parent aims to accelerate fresh market’s expansion
⚫
| date=2018-09-24|work=Supermarket News|access-date=2018-09-27}}</ref>


==Acquisitions==
==Acquisitions==
Empire Company has a long history of acquisitions. The ones worth mentioning are:
Empire Company has a long history of acquisitions:


* '''1976.''' Lawton's Drug Stores Limited, which operated 18 stores in Nova Scotia.
* '''1976''' Lawton's Drug Stores Limited, which operated 18 stores in Nova Scotia.
* '''November 1980 - July 1981''' Empire acquires Sobey Holdings Limited, gaining a 50.97% stake in the company.
* '''November 1980 – July 1981''' Empire acquires Sobey Holdings Limited, gaining a 50.97% stake in the company.
* '''February 1983''' Empire ups its ownership of [[Hannaford Bros. Co.]], an American food retailer, to 25% (Sold in 2000)
* '''February 1983''' Empire ups its ownership of [[Hannaford Bros. Co.]], an American food retailer, to 25% (Sold in 2000)
* '''June 1987''' Empire buys the remaining 49.03% of Sobeys, making it an entirely owned subsidiary. (Sold in 1998, re-bought in 2007)
* '''June 1987''' Empire buys the remaining 49.03% of Sobeys, making it an entirely owned subsidiary. (Sold in 1998, re-bought in 2007)
* '''1987''' Empire buys out its partner in Empire Theatres, turning it into an entirely owned subsidiary.
* '''1987''' Empire buys out its partner in Empire Theatres, turning it into an entirely owned subsidiary.
* '''May 1988''' Empire buys a 25% stake in Provigo.
* '''May 1988''' Empire buys a 25% stake in Provigo.
* '''1988''' Empire acquires an additional 22% stake in Wajax, resulting in a total ownership of 45%.
* '''1988''' Empire acquires an additional 22% stake in Wajax, resulting in a total ownership of 45%.
Line 53: Line 56:
* '''July 15, 2007''' Empire re-buys the remaining outstanding Sobey's share, making it once again an entirely owned subsidiary.
* '''July 15, 2007''' Empire re-buys the remaining outstanding Sobey's share, making it once again an entirely owned subsidiary.
* '''September 2007''' Sobeys buys Thrifty Foods for $256.6 million.
* '''September 2007''' Sobeys buys Thrifty Foods for $256.6 million.
* '''2012''' Sobeys purchases 236 retail gas locations for $214.9 million in Québec and Atlantic Canada.
* '''2011''' Sobeys purchases 236 retail gas locations for $214.9 million in Québec and Atlantic Canada.<ref>{{Cite web|date=2015-05-13|title=Co-op Atlantic members say yes to Sobeys deal|url=https://canadiangrocer.com/co-op-atlantic-members-say-yes-sobeys-deal|access-date=2021-08-13|website=Canadian Grocer|language=en}}</ref>
* '''June 2013''' Empire buys all of [[Safeway (Canada)|Safeway]] Canada's stores for $5.8 billion
* '''June 2013''' Empire buys all of [[Safeway (Canada)|Safeway]] Canada's stores for $5.8 billion
* '''September 2018''' Empire announces intent to buy [[Farm Boy]] stores in an $800 million deal.<ref>{{Cite web|url=https://business.financialpost.com/news/retail-marketing/we-will-not-screw-this-up-sobeys-parent-to-buy-beloved-farm-boy-in-800m-deal | title='We will not screw this up': Sobeys parent to buy beloved Farm Boy in $800M deal
* '''September 2018''' Empire announces intent to buy [[Farm Boy]] stores in an $800 million deal.<ref>{{Cite news|url=https://business.financialpost.com/news/retail-marketing/we-will-not-screw-this-up-sobeys-parent-to-buy-beloved-farm-boy-in-800m-deal | title='We will not screw this up': Sobeys parent to buy beloved Farm Boy in $800M deal
| date=2018-09-24|work=Financial Post|access-date=2018-09-27|quote=Empire’s real estate expertise, purchasing and distribution systems will help Farm Boy grow, York said, adding that it will be easier to get prime locations with Sobeys’ backing}}</ref>
| date=2018-09-24|work=Financial Post|access-date=2018-09-27|quote=Empire’s real estate expertise, purchasing and distribution systems will help Farm Boy grow, York said, adding that it will be easier to get prime locations with Sobeys’ backing| last1=Jackson
| first1=Emily
}}</ref>
* '''March 2021''' Empire announces it will buy 51% stake in [[Longo's]] and its Grocery Gateway e-commerce business for $357 million. The deal is expected to close in the first quarter of Empire's 2022 financial year.<ref>{{cite web|url=https://www.cbc.ca/news/business/sobeys-stake-longos-1.5951288|title=Sobeys parent company to buy 51% stake in Longo's, Grocery Gateway|publisher=cbc.ca|date=March 16, 2021}}</ref>


==Sales of Subsidiaries/Interests==
==Sales of Subsidiaries/Interests==


* '''1998''' Empire sells 38% of Sobeys, putting it out on the public stock exchange.
* '''1998''' Empire sells 38% of Sobeys, putting it out on the public stock exchange.
* '''2000''' Empire sells its 25% stake in Hannaford Bros Co for $1.03 billion.
* '''2000''' Empire sells its 25% stake in Hannaford Bros Co for $1.03 billion.
* '''March 2002''' Empire sells Serca Foodservice to SYSCO for $411 million.
* '''March 2002''' Empire sells Serca Foodservice to SYSCO for $411 million.
* '''June 2005''' When Wajax became an income trust, Empire sold 2.875 million shares for $50.8 million.
* '''June 2005''' When Wajax became an income trust, Empire sold 2.875 million shares for $50.8 million.
Line 67: Line 73:
* '''April 2008''' Empire sells another 61 properties to [[Crombie REIT]]
* '''April 2008''' Empire sells another 61 properties to [[Crombie REIT]]
* '''2011''' Empire sells its remaining share of Wajax.
* '''2011''' Empire sells its remaining share of Wajax.
* '''June 2013''' Empire announces the sale of [[Empire Theatres]] to [[Cineplex Entertainment]] and [[Landmark Cinemas]]. The aggregate gross purchase price paid to Empire Theatres in the two transactions was approximately $248 million in cash.<ref>{{cite web|title=Empire Company Announces Sale of Empire Theatres|url=http://www.newswire.ca/news-releases/empire-company-announces-sale-of-empire-theatres-512654711.html|website=www.newswire.ca|accessdate=11 May 2016}}</ref><ref>{{cite web|title=EMPIRE COMPANY COMPLETES SALE OF EMPIRE THEATRES|url=http://www.empireco.ca/site/media/Empireco/Empire%20Theatres%20Sale%20Closing%20-%20FINAL.pdf|accessdate=11 May 2016}}</ref>
* '''June 2013''' Empire announces the sale of [[Empire Theatres]] to [[Cineplex Entertainment]] and [[Landmark Cinemas]]. The aggregate gross purchase price paid to Empire Theatres in the two transactions was approximately $248 million in cash.<ref>{{cite web|title=Empire Company Announces Sale of Empire Theatres|url=http://www.newswire.ca/news-releases/empire-company-announces-sale-of-empire-theatres-512654711.html|website=www.newswire.ca|accessdate=11 May 2016}}</ref><ref>{{cite web|title=EMPIRE COMPANY COMPLETES SALE OF EMPIRE THEATRES|url=http://www.empireco.ca/site/media/Empireco/Empire%20Theatres%20Sale%20Closing%20-%20FINAL.pdf|accessdate=11 May 2016|archive-url=https://web.archive.org/web/20160303213216/http://www.empireco.ca/site/media/Empireco/Empire%20Theatres%20Sale%20Closing%20-%20FINAL.pdf|archive-date=2016-03-03|url-status=dead}}</ref>
* '''October 2013''' Sale of Empire Theatres to Cineplex and Landmark is complete.
* '''October 2013''' Sale of Empire Theatres to Cineplex and Landmark is complete.
* '''August 2013 '''Sobeys sells the land of 68 Safeway locations to Crombie REIT for $900 million.
* '''August 2013 '''Sobeys sells the land of 68 Safeway locations to Crombie REIT for $900 million.
* '''Oct/Nov/Dec 2013 '''Sobeys announces the closure of multiple locations in Alberta in preparation for the Safeway acquisition.
* '''Oct/Nov/Dec 2013 '''Sobeys announces the planned sale of 23 of its stores in [[Alberta]] in preparation to the Safeway acquisition; this move was required in order to satisfy the Competition Bureau.<ref>{{cite web|url=https://www.canadiangrocer.com/top-stories/sobeys-must-sell-23-safeway-stores-says-competition-bureau-33335|title=Sobeys to sell 23 stores in Safeway deal, says Competition Bureau|accessdate=16 March 2021}}</ref>


== References ==
== References ==
Line 81: Line 87:
[[Category:Companies based in Nova Scotia]]
[[Category:Companies based in Nova Scotia]]
[[Category:Conglomerate companies of Canada]]
[[Category:Conglomerate companies of Canada]]
[[Category:Companies established in 1963]]
[[Category:Conglomerate companies established in 1963]]
[[Category:1963 establishments in Nova Scotia]]
[[Category:1963 establishments in Nova Scotia]]

Latest revision as of 18:36, 14 April 2024

Empire Company Limited
Company typePublic
TSX: EMP.A
IndustryConglomerate/ Holding company
Founded1963; 61 years ago (1963)
Headquarters
Stellarton, Nova Scotia
,
Canada
Number of locations
1500 stores, 350 retail fuel(2020)
Key people
Michael Medline, President and CEO
BrandsCompliments
RevenueIncrease $26.588 billion CAD (2019)
Increase $1,111.8 million CAD (2019)
Increase $612.8 million CAD (2019)
Total assetsIncrease $14,632.9 billion CAD (2019)
Total equityDecrease $3.924 billion CAD (2019)[1]
Number of employees
127,000 (2020)[2]
SubsidiariesSobeys
Crombie REIT
Safeway
Farm Boy
FreshCo
Foodland
Needs Convenience
Lawtons
IGA / IGA Extra
Marché Bonichoix
Marché Tradition
Rachelle-Béry
Thrifty Foods
Pete's Frootique
Big 8 Beverages
Longo's
RatingBB+
Websitewww.empireco.ca

Empire Company Limited is a Canadian conglomerate engaged mostly in food retail and corporate investments. Founded in 1963, the company is headquartered in Stellarton, Nova Scotia and owns the Sobeys supermarket chain.[3] In total, the company owns, affiliates or franchises more than 1,500 stores; in addition to Sobeys, brands include Safeway, IGA, Foodland, Farm Boy, FreshCo, Thrifty Foods and Lawtons Drug.[4]

Acquisitions[edit]

Empire Company has a long history of acquisitions:

  • 1976 Lawton's Drug Stores Limited, which operated 18 stores in Nova Scotia.
  • November 1980 – July 1981 Empire acquires Sobey Holdings Limited, gaining a 50.97% stake in the company.
  • February 1983 Empire ups its ownership of Hannaford Bros. Co., an American food retailer, to 25% (Sold in 2000)
  • June 1987 Empire buys the remaining 49.03% of Sobeys, making it an entirely owned subsidiary. (Sold in 1998, re-bought in 2007)
  • 1987 Empire buys out its partner in Empire Theatres, turning it into an entirely owned subsidiary.
  • May 1988 Empire buys a 25% stake in Provigo.
  • 1988 Empire acquires an additional 22% stake in Wajax, resulting in a total ownership of 45%.
  • June 1989 Empire re-purchases the outstanding share of Atlantic Shopping Centres, making it an entirely owned subsidiary.
  • December 1993 Empire Real Estate buys 64% of Halifax Developments, Ltd; making it an entirely owned subsidiary.
  • December 1998 Empire buys Oshawa Group for $1.5 billion.
  • January 2001 Empire Real Estate buys a 35.7% stake in Genstar Developmental Partnership for $29 million.
  • February 2004 Sobey's acquires Commisso's Food Markets, and Empire Real Estate acquires Commisso's real estate for a total of $103.5 million.
  • September 2005 Empire Theatres acquires 27 more theatres.
  • August 2006 Sobey's acquires Achille de la Chevrotière Ltée, including its grocery chain of about 25 stores in Quebec and Ontario. This costs $79.2 million.
  • July 15, 2007 Empire re-buys the remaining outstanding Sobey's share, making it once again an entirely owned subsidiary.
  • September 2007 Sobeys buys Thrifty Foods for $256.6 million.
  • 2011 Sobeys purchases 236 retail gas locations for $214.9 million in Québec and Atlantic Canada.[5]
  • June 2013 Empire buys all of Safeway Canada's stores for $5.8 billion
  • September 2018 Empire announces intent to buy Farm Boy stores in an $800 million deal.[6]
  • March 2021 Empire announces it will buy 51% stake in Longo's and its Grocery Gateway e-commerce business for $357 million. The deal is expected to close in the first quarter of Empire's 2022 financial year.[7]

Sales of Subsidiaries/Interests[edit]

  • 1998 Empire sells 38% of Sobeys, putting it out on the public stock exchange.
  • 2000 Empire sells its 25% stake in Hannaford Bros Co for $1.03 billion.
  • March 2002 Empire sells Serca Foodservice to SYSCO for $411 million.
  • June 2005 When Wajax became an income trust, Empire sold 2.875 million shares for $50.8 million.
  • 2006 Empire sells 44 properties to Crombie REIT.
  • April 2008 Empire sells another 61 properties to Crombie REIT
  • 2011 Empire sells its remaining share of Wajax.
  • June 2013 Empire announces the sale of Empire Theatres to Cineplex Entertainment and Landmark Cinemas. The aggregate gross purchase price paid to Empire Theatres in the two transactions was approximately $248 million in cash.[8][9]
  • October 2013 Sale of Empire Theatres to Cineplex and Landmark is complete.
  • August 2013 Sobeys sells the land of 68 Safeway locations to Crombie REIT for $900 million.
  • Oct/Nov/Dec 2013 Sobeys announces the planned sale of 23 of its stores in Alberta in preparation to the Safeway acquisition; this move was required in order to satisfy the Competition Bureau.[10]

References[edit]

  1. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2020-09-10. Retrieved 2020-09-11.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2020-09-10. Retrieved 2020-09-11.{{cite web}}: CS1 maint: archived copy as title (link)
  3. ^ "Company website". Archived from the original on 2016-12-02. Retrieved 2013-06-13.
  4. ^ "Empire to buy Farm Boy chain for $800 million - Sobeys parent aims to accelerate fresh market's expansion". Supermarket News. 2018-09-24. Retrieved 2018-09-27.
  5. ^ "Co-op Atlantic members say yes to Sobeys deal". Canadian Grocer. 2015-05-13. Retrieved 2021-08-13.
  6. ^ Jackson, Emily (2018-09-24). "'We will not screw this up': Sobeys parent to buy beloved Farm Boy in $800M deal". Financial Post. Retrieved 2018-09-27. Empire's real estate expertise, purchasing and distribution systems will help Farm Boy grow, York said, adding that it will be easier to get prime locations with Sobeys' backing
  7. ^ "Sobeys parent company to buy 51% stake in Longo's, Grocery Gateway". cbc.ca. March 16, 2021.
  8. ^ "Empire Company Announces Sale of Empire Theatres". www.newswire.ca. Retrieved 11 May 2016.
  9. ^ "EMPIRE COMPANY COMPLETES SALE OF EMPIRE THEATRES" (PDF). Archived from the original (PDF) on 2016-03-03. Retrieved 11 May 2016.
  10. ^ "Sobeys to sell 23 stores in Safeway deal, says Competition Bureau". Retrieved 16 March 2021.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=Empire_Company&oldid=1218928498"