Calgary Co-op has acquired the retail business of Community Natural Foods.
“With more than 100 years of combined community presence and a similar value set, both Calgary Co-op and Community Natural Foods are looking forward to learning from each other and taking the Community Natural Foods brand further as part of the Calgary Co-op family,” Calgary Co-op said in a statement.
The sale is part of the succession plan for Community Natural Foods' owner. Calgary Co-op says it will keep Community Natural Foods staff and management structure in place. It plans to operate Community Natural Foods as an independent, wholly owned subsidiary, and to maintain and grow Community Natural Foods’ relationships with its vendors, many of which are locally based.
"For Calgary Co-op's food business to survive and thrive in the long term, we must work locally to increase the relevance of our unique offering of products and services to members' lifestyles," said Ken Keelor, Calgary Co-op CEO. "We must also deliver steady financial performance for our member-owned co-operative. This acquisition is an important step in that direction."