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Sobeys buying Co-op Atlantic food, gas business

TC MEDIA - Co-op Atlantic members voted May 12 to sell their assets to Sobeys.

Co-op Atlantic’s food, gas and retail businesses will be changing hands after member-owners voted in favour of selling them to Sobeys.

In a news release, Co-op Atlantic said members voted Tuesday night to proceed with the deal for its corporate stores.

Bryan Inglis, interim chief executive officer for Co-Op Atlantic, said the decision is the best option to ensure long-term viability of the almost 60 independently owned co-op stores across the region.

“Now those independently owned stores will be able to find a new wholesaler to provide products,” he said.

The deal will impact Co-op's corporate stores.

All of the independent stores around the region will stay as co-operatives and they have been in contact with Sobeys about entering into wholesale agreements.

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