HALIFAX – The ownership of a much beloved Halifax grocery business is changing hands.
On Thursday, Pete’s Fine Foods announced its grocery retail and wholesale business is being bought by Sobeys Capital Inc.
Luckett tells Global News that talks over a sale started in June 2015 and the two companies were brought together by a third-party.
“The timing is right. I think every entrepreneur or businessman who builds a business always thinks about when is the end result, where are we going. It had certainly been on my mind for the last 45 years. Where, when and how and I was just waiting for the correct opportunity,” he said.
Pete’s Fine Foods began with one location in Bedford; it opened its downtown location in 2004. Its Wolfville location closed earlier this year.
The company set itself apart with its emphasis on English market heritage, its international foods selection and its unique personality and flair. Luckett said customers will not notice anything different with the store’s new ownership; he is not worried the culture of the stores will change under Sobeys.
Luckett will remain in a consulting role with the company for 10 years and said he is excited about the sale to Sobeys.
“I really believe in the bottom of my heart that the fit is incredible. The fact they are embracing our brand and want to continue on and grow the brand, that’s very exciting,” he said.
“The thing about this deal is the Pete’s legacy lives on. My whole life building this brand and to see it continue with Sobeys, under a different owner but nevertheless, to see it continue and develop, I feel really great about it.”
Luckett said management and employees will be able to keep their jobs. He adds their seniority and benefits will transfer to Sobeys.
He now plans to focus on his winery in the Annapolis Valley, which he calls his “new baby”.
The sale becomes finalized Monday.
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