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Industry NewsFederated Co-op grows sales 38% in 2022 vs YA

Federated Co-op grows sales 38% in 2022 vs YA

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Federated Co-operatives Limited (FCL) experienced a strong 2022 with overall sales of $12.5 billion, a 38 per cent increase from $9.1 billion in 2021.

This year we worked to continue to meet the needs of our Co-op members, enhance their member experience, and position our organization for the future,” says Heather Ryan, FCL CEO. “For example, finalizing the acquisition of 171 Husky retail sites allows us to serve new communities and acquire new Co-op members, while investments in renewable fuels, agriculture and carbon capture represents our continued commitment to a sustainable tomorrow.” 

Net earnings for the year totaled $411 million, allowing FCL to return a $348 million patronage allocation to local Co-ops.

“Together, we will continue to deliver for Co-op members, and we will continue to build on the legacy we have created over the past 94 years because we are a different kind of business – we are Co-op,” said Ryan.

The contributions FCL makes to local Co-op owners supports their business and further enables them to invest in their facilities and communities.

The Co-op has more than two million members across Western Canada.

FCL was the subject of Grocery Business’ cover story last year.

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