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Grocer Metro Inc. bought a 55-percent stake of food retailer Marche Adonis in a bid to gain greater share of the growing ethnic consumer market in Ontario – and there may be more moves to come.
CFO Richard Dufresne tells BNN Canada’s population growth is coming from ethnic communities.
“We’ve always been striving to grow faster in those communities and Adonis fits the bill perfectly well,” he says.
Dufresne says Metro is ready for more acquisitions after successfully integrating the Canadian A&P stores it bought in 2005.“This Adonis transaction that you hear [about] from us today is a step in that direction,” he says.