Loblaw Acquires Arz Fine Foods

<p>Loblaw is continuing its expansion into ethnic foods with its recent acquisition of Arz Fine Foods, a Toronto-based Middle Eastern grocery retailer. Arz will operate as a <B>unique operating division</b> of Loblaw. Terms of the transaction were not disclosed.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Founded in 1989 by the Boyadjian family, Arz began as a specialty bakery and has since grown to include deli, fresh produce, halal meat, groceries, and ready-to-eat foods. The business also includes a <B>10,000 square foot retail store</b>, commercial bakery, food commissary, and distribution center, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">“This key partnership holds <B>great promise</b> as Canada’s Middle Eastern population and the Canadian taste for Middle Eastern food continues to grow,” said Vicente Trius, President of Loblaw. “Arz Fine Foods is a trusted Middle Eastern supermarket with strong product expertise. The combination of Arz Fine Foods and Loblaw will follow the same approach used with our T&amp;T business, which introduced ethnic expertise and products into our broader business in a very authentic way.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> As one of the <B>fastest growing</b> market segments, Loblaw hopes the acquisition will better position the company to capture Canada’s Middle Eastern population, which represents about 2% of the country. In 2009, Loblaw acquired T&amp;T for <B>$225 million</b>, helping the Asian retailer expand its then-17-store chain and its line of products, according to The Globe and Mail. Since then, T&amp;T has grown to 22 stores and put 58 of its products into the Loblaw chain.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> “This acquisition recognizes the commitment of our employees to become a leader in our field,” said Armand Boyadjian, Co-founder. “With Loblaw, we will continue to maintain our authenticity and enhance our customer experience and reach. This is a <B>great opportunity</b> to share our passion and products with even more Canadians.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> As Loblaw continues to broaden its grocery horizon, it’ll be interesting to see if the company will acquire any other ethnic grocers in the near future.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.loblaw.ca/English/Investor-Centre/default.aspx" target="_new"> Loblaw </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">