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Leising meets with Ripley County Farm Bureau members

first_imgIndianapolis, in. — Republican state senator from Oldenburg Jean Leising met with Ripley County Farm Bureau members at the Statehouse recently. The group discussed Indiana’s agriculture industry and bills moving through the legislative process. (Pictured from left: Brad Ponsler, Larry Huffmeyer, Leising, Rose Gauck and Gerald Gauck)last_img

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Sobeys buying Safeway Canada for 58billion

board local|Safeway|Sobey’s by News Staff Posted Jun 12, 2013 3:20 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO– Supermarket chain operator Empire Co. Ltd. (TSX:EMP.A) plans to acquire the Canadian assets of grocer Safeway for $5.8 billion.The Nova Scotia-based parent of the Sobeys chain said Wednesday that the cash deal will boost its presence in Western Canada and give it $1.8 billion of real estate.The transaction to buy Canada Safeway Ltd., which has 213 stores, will be completed through its wholly-owned Sobeys Inc. subsidiary. Included in the transaction are 199 in-store pharmacies and 62 gas stations on the Safeway properties.Sobeys CFO Paul Jewer won’t give too much away when it comes to products, prices and other potential changes at the locations though.“We will have a continues focus on food and fresh and excellent customer service in our stores and in the Safeway stores. Our folks will continue on running the business as two separate entities because this is a transaction that is subject to regulatory approval.”The supermarket chain will likely be competing with places like Walmart and Target.Jewer says some things may stay the same. “It is too premature to make any decision on this stage on brands or banners but we certainly have the right to continue to use the Safeway name in Canada.”Safeway Inc. chief executive Robert Edwards told analysts in a conference call that the offer to buy its Canadian operations came directly from Empire Co.“An auction process was not run and this was an unsolicited offer,” he said.“We believe that this transaction maximized the value of our Canadian assets.”Empire Co. will also own 10 liquor stores, four distribution centres and 12 manufacturing facilities as part of the deal.The company expects the transaction to immediately add to Empire’s adjusted net earnings per share and that it will have cost synergies of $200 million a year within three years. Sobeys buying Safeway Canada for $5.8-billion read more

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