Farm Boy is quite good, and it would be great if they expanded into Toronto. Unfortunately, they tend to favour suburban, car-centric locations.
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Local grocery chain Farm Boy going national
ottawa.ctvnews.ca
Published Wednesday, Nov. 7, 2012 2:47PM EST
Last Updated Wednesday, Nov. 7, 2012 2:53PM EST
Local grocery chain Farm Boy is going national.
The local-focused retailer says an investment from a new North American partner is behind the expansion.
There are currently 13 stores in Ottawa, Cornwall and Kingston with a new location in the works for Ottawa’s Trainyards.
The deal will be formally announced next week.
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Farm Boy set to triple its size in 5 years
Grocer brings in private equity partner to spur national expansion
By Teresa smith, Ottawa Citizen November 6, 2012
OTTAWA — Ottawa grocer Farm Boy appears to be looking to cultivate new markets.
Chief executive Jeff York said Tuesday night that an influx of cash from a “private equity partner” will allow the company to expand across Canada.
The deal, which is expected to be announced publicly next week, would bring an undisclosed amount of money in from a new “North American” partner.
York, who came to Farm Boy from Giant Tiger with a mission to “grow the company”, said late Tuesday evening that the leadership of the grocery chain will remain the same, with the new partner joining the Bellemare family, and York remaining at its helm.
“Everything’s going to get better,” said York. “We’re going to have more (locations), and we’re going to have a lot of capital to grow Farm Boy across Canada.”
York would not identify the new partner — or how much money would be involved — but he said the partner is not from the Ottawa area.
“They’re from North America,” York said.
He did say, however, that the money will allow Farm Boy to expand, creating “more jobs and a bigger Canadian footprint.”
“Each time we open a store, it’s 120 jobs, minimum,” said York.
“We’re at 1,700, so, hopefully in five years we’ll have 5,000 employees — that would be an admirable goal.”
Despite its growth, York said the company remains committed to its original business model as a “fresh-food retailer.”
Farm Boy says it deals directly with local growers and suppliers to provide organic and unusual varieties of produce not found elsewhere.
With the new money, York says Farm Boy will be able to offer its wares to more Canadians.
“This is what every company wants to have,” said York. “Owners that want to aggressively grow companies, ’cause if you’re not moving forward today, you’re moving backwards.”
Farm Boy Inc., which began in 1981 as a small produce stand in Cornwall, has been aggressively expanding in the past year, with more locations in the works.
Last month, the company opened its 13th location in Kingston. The 14th is planned for the spring of 2013 in Ottawa’s Trainyards shopping district.
