Metro will soon own 100% of Adonis
The Metro grocery store chain announced Tuesday that it intends to purchase the shares it doesn't own in the Adonis supermarket brand.
Metro purchased a majority stake — 55 per cent — in Adonis, along with its Phoenicia and Cedar brands, from the company's founders in 2011. Since then, Adonis, a supermarket chain specializing in Middle Eastern and Mediterranean food, has expanded its presence from 5 to 11 stores.
The deal to buy the remaining 45 per cent stake has yet to be finalized, and there's no hint as to how much that stake would be worth.
Three Lebanese immigrants with food-industry backgrounds opened the first Adonis store in 1979 on Faillon St. in Montreal. The chain now has 11 supermarkets in Quebec and in Mississauga, Ont.