Empire Company Limited

What does Empire Company own?
Empire Company owns Sobeys Inc., Canada's second-largest grocery chain, which operates approximately 1,500 stores under banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Farm Boy, Thrifty Foods, and Longo's (51% stake). The company also holds a significant investment in Crombie Real Estate Investment Trust, which owns many of the properties occupied by Empire's grocery stores.

Is Empire Company publicly traded?
Yes, Empire Company's Class A non-voting shares trade on the Toronto Stock Exchange under the ticker EMP.A. However, the Sobey family retains effective control through Sobey Inc., which holds a majority of the voting shares. This dual-class structure means public shareholders have limited influence over corporate governance.

Who founded Empire Company?
Empire Company Limited was incorporated in 1963 as a holding company for the Sobey family's grocery business. The grocery operations trace back to 1907, when J.W. Sobey opened a meat delivery business in Stellarton, Nova Scotia. His son, Frank Sobey, expanded the business into a supermarket chain during the 1920s and 1930s.

Where is Empire Company headquartered?
Empire Company is headquartered in Stellarton, Nova Scotia, Canada. The company maintains major operational offices in Mississauga, Ontario, where most day-to-day merchandising, supply chain, and operational management is conducted. Stellarton remains the legal and corporate headquarters.

How many brands does Empire Company own?
Empire Company operates approximately 8 grocery retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Farm Boy, Thrifty Foods, and Longo's. The company also operates Voila by Sobeys, an online grocery delivery service. These banners collectively serve approximately 1,500 stores across all ten Canadian provinces.

Who owns Empire Company?
Empire Company is controlled by the Sobey family through Sobey Inc., a private holding company that holds a majority of the voting shares. The Class A non-voting shares (EMP.A) are publicly traded on the Toronto Stock Exchange and held by institutional investors, mutual funds, and individual shareholders. The Sobey family has maintained controlling ownership since the company's founding in 1963.

What is Empire Company's revenue?
In fiscal year 2026 (ended May 2, 2026), Empire Company reported sales of CAD $31.95 billion, an increase of 2.2% from CAD $31.28 billion in FY2025. Adjusted EBITDA was CAD $2.5 billion, and adjusted earnings per share was CAD $3.24. Food sales accounted for CAD $30.15 billion, with fuel sales contributing CAD $1.81 billion.

The history of Empire Company is tied to the history of the Sobey family's grocery business, which began in 1907 when J.W. (John William) Sobey started a meat delivery business in Stellarton, Nova Scotia. J.W. Sobey's son, Frank Sobey, expanded the operation into a full grocery chain during the 1920s and 1930s, opening stores across Atlantic Canada and adopting the supermarket format as it emerged in North America.

Empire Company Limited was incorporated in 1963 as a holding company for the Sobey family's growing grocery operations and other business interests. The corporate structure allowed the family to diversify beyond grocery retail while maintaining centralized control. Empire went public on the Toronto Stock Exchange, raising capital for expansion while the Sobey family retained controlling ownership through Sobey Inc.

During the 1970s and 1980s, Empire expanded Sobeys beyond Atlantic Canada into Ontario and western provinces. The company also diversified into real estate, financial services, and other non-grocery businesses during this period. This diversification strategy was later reversed as the company refocused on its core food retail operations.

In 1998, Empire made a transformative acquisition, purchasing the Oshawa Group for approximately CAD $1.5 billion. The deal added IGA and other grocery banners to Empire's portfolio and significantly expanded the company's presence in Ontario, the most populous Canadian province. This acquisition marked Empire's transition from a regional Atlantic Canada grocer to a national player.

In 2013, Empire acquired Canada Safeway for approximately CAD $5.8 billion, adding 213 Safeway stores in Western Canada. This was the largest acquisition in Empire's history and gave the company a coast-to-coast presence. The Safeway integration proved difficult. Empire faced significant operational challenges including supply chain consolidation, IT system migration, and store conversion issues. The company launched Project Sunrise, a major restructuring program designed to simplify operations and reduce costs. The integration problems depressed earnings for several years following the deal.

Michael Medline joined as CEO in 2017, replacing Marc Poulin. Medline had previously served as CEO of Canadian Tire Corporation. Under Medline, Empire accelerated its operational turnaround, expanded FreshCo discount stores into Western Canada, and invested in e-commerce.

In 2018, Empire acquired Farm Boy, an Ontario-based premium fresh food retailer, for approximately CAD $800 million. Farm Boy operates a differentiated format focused on fresh, local, and private-label products. The acquisition gave Empire exposure to the fast-growing premium fresh food segment.

Also under Medline, Empire launched Voila by Sobeys, an online grocery delivery service powered by Ocado's automated fulfillment technology. Voila operates customer fulfillment centers in Ontario and Alberta. The service represents Empire's primary e-commerce investment and competes with Loblaw's PC Express and Walmart Canada's grocery delivery.

In 2021, Empire acquired a 51% stake in Longo's, a family-owned premium grocery chain based in the Greater Toronto Area, for approximately CAD $700 million. The deal included Longo's Grocery Gateway e-commerce platform.

In fiscal year 2026 (ended May 2, 2026), Empire reported sales of CAD $31.95 billion, up 2.2% from CAD $31.28 billion in FY2025. Adjusted EBITDA was CAD $2.5 billion, and adjusted earnings per share was CAD $3.24, an increase of 8.7% over the prior year. The company's fourth quarter showed same-store sales growth of 1.5% in food.

Empire Company, through its Sobeys subsidiary, publishes an annual sustainability report under the "OurPart" program. The company has set targets for reducing food waste, cutting carbon emissions from store operations, and improving packaging sustainability. Empire is a participant in the Canadian Food Waste Pledge, which commits signatories to halve food waste by 2030.

Environmental initiatives include energy-efficient refrigeration and lighting systems in stores, plastic packaging reduction targets, and logistics optimization to reduce transportation emissions. The company works with suppliers on sustainable sourcing practices, including responsible seafood sourcing and animal welfare standards.

Empire addresses food security through partnerships with Food Banks Canada and local food banks across Canada. The company donates surplus food and provides financial support to food assistance programs. These efforts are part of the company's community engagement strategy, which also includes Indigenous reconciliation initiatives and diversity and inclusion programs.

The company's sustainability reporting is first-party and should be evaluated as such. Empire does not hold B Corp certification, and its climate targets have not been validated by the Science Based Targets initiative as of the most recent available information.

Empire Company and other Canadian grocery retailers have faced sustained political and public scrutiny over food price inflation since 2022. The Canadian government convened grocery executives, including Empire CEO Michael Medline, for meetings on price stabilization in late 2023. Parliamentary committees have held hearings on grocery pricing practices, with Empire executives testifying alongside competitors. No specific regulatory action has resulted from these hearings, but the scrutiny has created ongoing reputational pressure.

Empire's 2013 acquisition of Canada Safeway was subject to Competition Bureau of Canada review. The Bureau required Empire to divest certain stores in Western Canadian markets where the acquisition would reduce competition. Empire completed the required divestitures, and the acquisition was approved with conditions.

Canadian grocery retailers, including Empire, have faced allegations from suppliers regarding buyer power. Some suppliers have publicly complained that large grocers use their market position to impose unilateral fee increases and unfavorable payment terms. The federal government introduced a Grocery Supply Code of Conduct in 2024 to address these power imbalances. Empire initially resisted the code but ultimately signed on in 2024 after industry pressure.