Transaction details
Retail - Grocery & E-commerce
KPMG Corporate Finance acted as financial advisor to Longo Brothers Fruit Markets Inc. (“Longo’s” or the “Company”), inclusive of its Grocery Gateway e-commerce business, on the sale of 51% of the Company to Empire Company Limited (“Empire”).
Longo's is a family-owned Canadian organization that started in 1956 when three brothers, Tommy, Joe and Gus opened their first fruit market. What began as a small family-run store has since grown to a company that operates 36 stores in communities across Toronto and the GTA, as well as Grocery Gateway, a leader in online sales of home-delivered groceries.
Founded in 1963 and headquartered in Stellarton, Nova Scotia, Empire’s key businesses are in food retailing, including wholly owned subsidiary Sobeys Inc., and related real estate. In total, Empire and its subsidiaries, franchisees and affiliates employ approximately 127, 000 people across more than 1500 stores.
The transaction immediately adds two brands to Empire’s growing grocery store and e-commerce business.
KPMG deal team
KPMG Corporate Finance
acted as financial advisor to
on the sale of a 51% majority interest to
May 2021
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