Empire to acquire Berkshire's Farm Boy in $800 mln deal: Reuters

Canadian food retailer Empire Co Ltd has agreed to acquire privately held grocer Farm Boy Inc for an enterprise value of $800 million to increase its presence in Ontario, Reuters reported. Ottawa-based Farm Boy, which specializes in “farm-to-table” wholesale, will be acquired from Berkshire Partners, following which it will be set up as a separate company within Empire’s structure. “It will be a growth vehicle in urban and suburban markets,” Empire CEO Michael Medline said, adding that he expected Ebitda to double in five years. Berkshire, a Boston private equity firm, invested in Farm Boy in 2012.

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