T&T Supermarket

New Saint-Laurent supermarket to be Asian grocer’s biggest store in Canada

Fast-growing Asian grocer announces new location in Montreal

Ethnic grocer to open location in Toronto's CF Fairview Mall

T&T Supermarkets to open new store in British Columbia

For its third quarter of 2009, Canadian grocer Loblaw Cos., Ltd. posted basic net earnings per common share of 69 cents, an increase of 12 cent, or 21.1 percent, from the 57 cents reported last year; and net earnings of CAN $189 million (US $179.8 million), a rise of $32 million, or 20.4 percent, from the CAN $157 million (US $149,4 million) logged in the year-ago period.

Loblaw Cos., Ltd. said Friday that the shareholders of T&T Supermarket, Inc., Canada’s largest Asian food retailer, have entered into an agreement with Loblaws, Inc., a Loblaw subsidiary of Loblaw, for the purchase of all the common shares of T&T. The purchase price is set at $225 million, with certain adjustments to be made at closing, according to Brampton, Ontario-based Loblaw, adding that $191 million of the purchase price will be funded by cash and the rest through preferred shares issued by T&T, the value of which will be tied to the future performance of the business.

T&T Supermarket, Inc., Canada’s leading Asian supermarket chain will open its second Edmonton, Alberta, location and 17th store July 2 in North Towne Center.