Metro buys majority stake in Montreal-area ethnic food retailer Marche Adonis

Well-known Montreal ethnic food retailer Marche Adonis is now part of the Metro supermarket chain, Canada’s Metro Inc,  (TSX:MRU.A), is looking to establish itself in
the multibillion-dollar ethnic grocery store market in Canada, by acquiring a 55 per cent majority stake in Adonis and its distributor, Phoenicia Products, a retailer and Wholesaler of ethnic Middle Eastern foods, Adonis keeping 45 per cent stake, While managing both companies.

Metro is making a stronger play for ethnic shoppers by partnering with Marche Adonis, with Adonis managment expertise it should help Metro with it s pace to improve its offering of ethnic food

Metro which owns a large network of traditional and discount supermarkets in Ontario and Quebec, is entering the crowded Ontario and Quebec market of ethnic food, In Ontario, family-run Rabba operates 30 stores, plus there are other small retailer.

In 2009 Loblaws (TSX:L) acquired Canada's largest Asian food retailer, the T&T Supermarket chain, for $225 million, T&T has 20 stores in B.C., Alberta and Ontario, along with four distribution centres, Ethnic food is an area of growth among food retailers, particularly in the large urban centres of Montreal, Toronto, Vancouver, which have large ethnic populations. Other retailers have also expanded their ethnic offering while more members of these communities operate large stores of their own.

No dollar value for the transaction was provided, Metro is keeping its eyes open for good partners that can add other ethnic banners

Marché Adonis,  Phoenicia products:

Adonis sells a wide array of fresh vegetables, marinated and grilled meats and specialty Lebanese-style dishes ranging from kibbeh to stuffed zucchini to Greek-style desserts like baklava.

Founded in 1978, and launched by brothers Elie and Jamil Cheaib and partner George Ghrayeb who moved to Canada from Damour Lebanon in 1976, they opened their first store, a modest 1,000 square foot shop at Taillon and Lajeunesse, in 1979, currently operates three large-Retail format stores in Montreal and one in Laval, a fifth store will open in the shopping developments, Dix-30, by the end of this year in Brossard.

Phoenicia products, which imports and distributes exclusive Phoenicia and Cedar brand , products including cheeses, dried fruits, bagged and canned vegetables, olives, grains, herbs, spices, sauces, condiments and marinades. has two warehouses, one in Montreal and one in Toronto.

Marche Adonis and Phoenicia together have more 1,000 employees, with estimated current retail sales at between $75-million and $95-million and the warehouse may add a further $15-million to $25-million.

Metro Inc:

Metro Inc, (TSX:MRU.A), controls about one third of the Quebec market and is considered one of the big three supermarket chains along with Sobeys and Loblaw's, with annual sales exceeding $11 billion, operates a network of more than 600 food stores under several banners including Metro, Metro Plus, Super C and Food basics, as well as over 250 drugstores under the Brunet, The Pharmacy and Drug Basics banners, employe more than 65,000 employee.

It would be several years before Adonis has a material impact on Metro’s revenue of more than $11-billion in 2011, The new partnership will determine the expansion plan in the next few weeks. The company hopes to open 10 to 12 in the next several years.

For further information:
Marie-Claude Bacon
Senior Director, Corporate Affairs Department
514 643-1086
mbacon@metro.ca

Follow REALESTATESNATCH On Twitter and Facebook!

     
Read more from REAL ESTATE SNATCH Post blog:
      Related Posts Plugin for WordPress, Blogger...

No comments:

Get Real Estate Tips

linkwithin...

About Us

Get Free Email Updates to your Inbox!

REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



©Copyright 2009-2017 REAL ESTATE SNATCH All Rights Reserved Registration on or use of this site constitutes acceptance of our

Search This Blog