On September 28, 2009, Loblaws Inc., a subsidiary of Loblaw Companies Limited, completed the purchase of T&T Supermarket Inc. for the purchase price of $225 million (subject to certain adjustments). The purchase price will be funded by $191 million in cash with the remaining through preferred shares issued by T&T, the value of which will be tied to the future performance of the business. Loblaw is Canada's largest food distributor.
T&T is headquartered in Richmond, BC, and is Canada's largest Asian food retailer, operating 18 stores in British Columbia, Alberta and Ontario and four distribution centres, three in Vancouver and the other in Toronto. Other Loblaw banners include: Loblaws, Zehrs, Fortinos, Real Canadian Superstore, Valu-Mart, Atlantic Superstore, No Frills and Provigo.
Loblaw was represented by David Gore, vice president and legal counsel, and Adam Walsh, vice president and legal counsel, who were assisted by a team from Borden Ladner Gervais LLP (BLG). The BLG team comprised, among others, Martin Donner, Lily Wang, Tim Sehmer, Larissa Tkachenko, Daniel Lang, James Heth, Robert Russell, Steven Iczkovitz, Eric Dufour and Stephanie Campanaro.
T&T was represented by Blake, Cassels & Graydon LLP, with a team that comprised, among others, Bill Sirett, Robert Kopstein, Steven McKeon, Susan Tomaine, Kathleen Keilty and Jason Gudofsky.