Calgary Co-op will acquire Willow Park Wines & Spirits, with the transaction expected to close sometime early in 2023. This definitive agreement contemplates the acquisition of the entire Willow Park Wines & Spirits business including its two Calgary locations (in Willow Park and Eau Claire), location in Regina and its Business to Business sales (B2B) and distribution centres in Calgary, Edmonton and Regina.
Willow Park Wines & Spirits was established in 1994 by the Henuset family, growing as a Calgary-based, family-owned business in the retail, B2B and wholesale sector. Part of Willow Park's succession plan was to seek a buyer with mutual values, a focus on customer service and a local presence.
Says Scott Henuset, outgoing owner of Willow Park Spirits & Wines: “We have found a great partner and we are thrilled that the business will continue to be locally owned. Through this acquisition, Willow Park Wines & Spirits will continue to grow as a brand in its key markets.”
After the closing of the acquisition, Calgary Co-op plans to keep Willow Park Wines & Spirits as a wholly-owned subsidiary of Calgary Co-op, meaning Willow Park Wines & Spirits will be operated as a separate entity. Accordingly, as a separate entity, purchases at Willow Park Wines & Spirits will not apply to Calgary Co-op patronage. Willow Park Wines & Spirits will also continue to maintain its current loyalty program.
Says Ken Keelor, CEO of Calgary Co-op: “The acquisition of Willow Park Wines & Spirits demonstrates our ongoing investment in the community and our business. This represents the coming together of two long-time, community-focused Calgary retailers with deep roots in the Calgary community. We look forward to building on the strong legacy of the Willow Park brand. We are committed to the Willow Park Wines & Spirits team, and we will learn from them to create new opportunities together.”