Sobeys’ second chance It’s not often that a CEO, in announcing a takeover, vows that “we will not screw this up.” That’s the promise made by Michael Medline, turnaround CEO of Sobeys Inc., in unveiling his firm’s $800-million acquisition of the Ontario-based Farm Boy grocery chain. Farm Boy will also remain semi-autonomous, not integrated with Sobey banners Sobey’s, IGA, Safeway and Fresh. Medline describes Farm Boy as a “jewel,” and he’s right. Sobeys CEO Michael Medline, who deftly oversaw acquisitions and branding when he served as Canadian Tire’s CEO, is now promising great things from Sobeys acquisition of the Ontario-based Farm Boy grocery chain. The deal boosts Toronto-based Barrick’s reserves to 78 million ounces and its annual gold production to more than six million ounces.

Source: thestar October 08, 2018 03:56 UTC