MONCTON, N.B. – A New Brunswick-based co-operative wholesaler says it will sell its food and gas businesses in Atlantic Canada.
Co-op Atlantic says its members voted in favour of selling its corporate food and gas retail sites and wholesale assets following a recommendation from the board of directors last month.
The company in Moncton says it will now move forward with a proposed agreement to sell the assets to Sobeys, although that’s expected to take several months.
It says the move will impact its employees, but how many positions will be affected won’t be determined until after the sale.
The company says the 60 independently owned co-op member stores across the region will find new wholesale suppliers.
Co-op Atlantic is currently conducting a review of its other divisions including agriculture, petroleum and housing.