Sobeys to acquire Pete’s Fine Foods in N.S.
Grocery chain Sobeys says it will maintain the Pete's Fine Foods brand and unique market culture
A well-known and beloved Nova Scotia grocery business will soon be changing ownership.
Stellarton, N.S.-based Sobeys Capital Inc. has entered into an agreement to purchase Pete’s Fine Foods, a grocery retail and wholesale business owned by well-known Nova Scotia grocer Pete Luckett. The transaction includes Luckett’s Halifax and Bedford, N.S. grocery retail locations as well as one wholesale operation.
“Sobeys is an ideal match, truly an Atlantic Canadian success story, built on the same entrepreneurial spirit as Pete’s,” says Luckett. “It’s the right time for me to transition from the grocery industry into the winery business.”
Sobeys says it will continue to operate the stores under the Pete’s Fine Foods brand, and plans to maintain Pete’s unique market culture and customer-focused flair for food. Luckett says he will stay on with the business in a consulting capacity, contributing his expertise and passion for food, while also ensuring the integrity of the Pete’s Fine Foods brand.
“With this agreement, customers can enjoy peace-of-mind knowing that the stores will continue to prosper and expand while offering that same extraordinary shopping experience,” adds Luckett, who has been building up his market-style shops for more than 40 years.
“Pete has instilled a unique culture in his stores and a food offer that resonates with his customers,” says Peter Doucette, General Manager, Sobeys Atlantic. “We don’t want to change that. In fact, we want to build the Pete’s brand and grow the opportunities for the business in Atlantic Canada. With Sobeys’ resources and ability to support growth and expansion in the region, we can make that happen.”
The transaction is expected to close on November 2, 2015.