Canadian retailer Loblaw has completed the acquisition of T&T Supermarket, the country’s largest Asian food retailer, in a deal worth C$225m (US$208m).
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The acquisition was previously announced on 24 July.
T&T, founded in 1993, runs 17 stores in British Columbia, Alberta and Ontario. Loblaw executive chairman Galen Weston said the deal would help the retail giant build its “ethnic offering”.
The deal will see Loblaw pay C$191m in cash, with the balance coming through preferred shares issued by T&T, which are tied to the future performance of the business.
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