Empire Company Limited
Canadian conglomerate engaged in food retail and corporate investments, owner of Sobeys supermarket chain and other retail brands.
Company Type
public
Founded
1963
Headquarters
Stellarton, Nova Scotia, Canada
Stock
TSX: EMP.A
About Empire Company Limited
Who owns Empire Company?
Empire Company is controlled by the Sobey family through their private holding company Sobey Inc., which holds a majority of the voting shares. The company's Class A non-voting shares (EMP.A) trade on the TSX and are owned by public shareholders.
Empire Company is controlled by the Sobey family through their private holding company Sobey Inc., which holds a majority of the voting shares. The company's Class A non-voting shares (EMP.A) trade on the TSX and are owned by public shareholders.
Is Empire Company publicly traded?
Yes, Empire Company's Class A non-voting shares (EMP.A) trade on the Toronto Stock Exchange. However, the Sobey family retains effective control through their ownership of voting shares.
Yes, Empire Company's Class A non-voting shares (EMP.A) trade on the Toronto Stock Exchange. However, the Sobey family retains effective control through their ownership of voting shares.
What is Sobeys?
Sobeys is Empire Company's flagship grocery banner and Canada's second-largest grocery chain. Sobeys traces its roots to 1907 when J.W. Sobey opened a meat delivery business in Stellarton, Nova Scotia. Today, Sobeys operates full-service supermarkets across Canada.
Sobeys is Empire Company's flagship grocery banner and Canada's second-largest grocery chain. Sobeys traces its roots to 1907 when J.W. Sobey opened a meat delivery business in Stellarton, Nova Scotia. Today, Sobeys operates full-service supermarkets across Canada.
When was Empire Company founded?
Empire Company Limited was incorporated in 1963 as a holding company for Sobeys and other Sobey family business interests. The Sobeys grocery business itself dates to 1907.
Empire Company Limited was incorporated in 1963 as a holding company for Sobeys and other Sobey family business interests. The Sobeys grocery business itself dates to 1907.
What is Empire Company's revenue?
In fiscal year 2024 (ended May 4, 2024), Empire Company reported revenues of approximately $32.3 billion.
In fiscal year 2024 (ended May 4, 2024), Empire Company reported revenues of approximately $32.3 billion.
What is Voila?
Voila by Sobeys is Empire Company's online grocery delivery service, powered by Ocado's automated fulfillment technology. Voila operates customer fulfillment centers in Ontario and Alberta, delivering groceries to customers' homes.
Voila by Sobeys is Empire Company's online grocery delivery service, powered by Ocado's automated fulfillment technology. Voila operates customer fulfillment centers in Ontario and Alberta, delivering groceries to customers' homes.
History of Empire Company Limited
The history of Empire Company is inseparable from the history of Sobeys, which traces its roots to 1907 when J.W. Sobey opened a meat delivery business in Stellarton, Nova Scotia.
J.W. Sobey's son, Frank Sobey, transformed the family business into a grocery chain in the 1920s and 1930s. Frank Sobey was a visionary retailer who recognized the potential of the supermarket format and expanded Sobeys aggressively across Atlantic Canada.
Empire Company Limited was incorporated in 1963 as a holding company for Sobeys and other Sobey family business interests. The company was formed to provide a corporate structure for the growing Sobeys grocery chain and to facilitate diversification into other business areas.
Empire Company went public on the Toronto Stock Exchange, providing capital for continued expansion while the Sobey family retained controlling ownership through Sobey Inc.
Throughout the 1970s and 1980s, Empire Company expanded Sobeys beyond Atlantic Canada into Ontario and other provinces. The company also diversified into real estate, financial services, and other businesses.
In 1998, Empire Company made a transformative acquisition, purchasing the Oshawa Group for approximately $1.5 billion. The acquisition added IGA and other grocery banners to Empire's portfolio and significantly expanded the company's presence in Ontario.
In 2013, Empire Company acquired Canada Safeway for approximately $5.8 billion, adding approximately 213 Safeway stores in Western Canada. The acquisition was the largest in Empire Company's history and established the company as a truly national grocery retailer.
The Safeway integration proved challenging, and Empire Company faced significant operational difficulties in the years following the acquisition. The company undertook a major restructuring program called Project Sunrise, which aimed to simplify operations and reduce costs.
In 2018, Empire Company acquired Farm Boy, a premium fresh food retailer with stores in Ontario, for approximately $800 million. The acquisition added a differentiated retail format to Empire's portfolio.
Michael Medline joined as CEO in 2017 and led the company's operational turnaround. Under Medline's leadership, Empire Company launched its Voila online grocery delivery service (powered by Ocado's technology), expanded FreshCo discount stores into Western Canada, and improved operational performance.
In fiscal year 2024 (ended May 4, 2024), Empire Company reported revenues of approximately $32.3 billion.
Brands Owned by Empire Company Limited
Empire Company Limited owns 1 brand in our database.
Stock Information
Empire Company Limited Ownership: Pros & Cons
Advantages
- +FY2024 revenues of approximately $32.3 billion demonstrate scale as Canada's second-largest food retailer
- +Sobey family's controlling ownership through Sobey Inc. provides long-term strategic stability
- +Diverse portfolio of grocery banners (Sobeys, Safeway, IGA, FreshCo, Farm Boy) serves multiple market segments
- +Voila online grocery delivery service positions Empire for growth in e-commerce
- +Investment in Crombie REIT provides real estate value and stable rental income
Considerations
- -Dual-class share structure gives the Sobey family effective control, limiting public shareholder influence
- -Intense competition from Loblaw, Metro, Walmart, and Costco in the Canadian grocery market
- -Food price inflation scrutiny from government and consumers creates reputational and regulatory risk
- -Safeway integration challenges demonstrated the difficulty of large acquisitions
- -Dependence on Canadian consumer spending and economic conditions
Frequently Asked Questions About Empire Company Limited
Who owns Empire Company?
Empire Company is controlled by the Sobey family through their private holding company Sobey Inc., which holds a majority of the voting shares. The company's Class A non-voting shares (EMP.A) trade on the TSX and are owned by public shareholders.
Is Empire Company publicly traded?
Yes, Empire Company's Class A non-voting shares (EMP.A) trade on the Toronto Stock Exchange. However, the Sobey family retains effective control through their ownership of voting shares.
What is Sobeys?
Sobeys is Empire Company's flagship grocery banner and Canada's second-largest grocery chain. Sobeys traces its roots to 1907 when J.W. Sobey opened a meat delivery business in Stellarton, Nova Scotia. Today, Sobeys operates full-service supermarkets across Canada.
When was Empire Company founded?
Empire Company Limited was incorporated in 1963 as a holding company for Sobeys and other Sobey family business interests. The Sobeys grocery business itself dates to 1907.
What is Empire Company's revenue?
In fiscal year 2024 (ended May 4, 2024), Empire Company reported revenues of approximately $32.3 billion.
What is Voila?
Voila by Sobeys is Empire Company's online grocery delivery service, powered by Ocado's automated fulfillment technology. Voila operates customer fulfillment centers in Ontario and Alberta, delivering groceries to customers' homes.
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