Grocer Loblaw is to acquire Canada’s largest Asian food retailer, T&T Supermarket, comprising 17 stores and four distribution centres.
The retailer will add about C$500m (£280.1m) in sales to Loblaw’s business, which is paying C$225m (£126m) for the deal, which is expected to complete before the year end.
Like-for-likes at Loblaw rose 2.5 per cent in its second quarter, while total sales increased 2.8 per cent to C$7.23bn (£4.05bn).
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