Farm Boy

Ownership

Specialty fresh-format grocery chain operating in Ontario (26 locations at the time of the agreement). Empire Company announced on September 24, 2018 that it (through a subsidiary) would acquire Farm Boy from Berkshire Partners for a total enterprise value of $800 million, financed through cash on hand and debt; the deal closed on December 11, 2018. Farm Boy's co-CEOs and senior management reinvested for a 12% interest in the continuing business, which Empire runs as a separate company. No Metro Vancouver presence. [1][2]