Longo’s 36 supermarkets and its Grocery Gateway e-commerce business have been sold to Empire, Company Ltd., the parent company of Sobeys which is Canada’s second-largest supermarket chain.
The price is $357 million for 51 per cent ownership.
Longo's and Grocery Gateway will continue to be led by chief executive officer Anthony Longo, but it gains Empire’s buying clout and corporate services.
"Longo's has built one of the most successful and sought-after brands in the [Greater Toronto Area] and Southwestern Ontario," said Michael Medline, Empire's president and chief executive officer.
"Longo's is a crown jewel of grocery and as a values-driven company, Longo's culture aligns closely with Empire.
Longo's was founded in 1956 in Toronto by brothers Tommy, Joe and Gus Longo. Longo’s supermarkets are in the Greater Toronto area and Grocery Gateway serves 70,000 customers.
Empire's brands in Ontario include Sobeys, Foodland, FreshCo, Farm Boy and e-commerce business Voilà.
