Calgary Co-operative Association Ltd.
Calgary Co-operative Association Ltd. has acquired the retail business of Community Natural Foods.
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Calgary Co-operative Association Ltd. has acquired the retail business of Community Natural Foods. MNP Corporate Finance Inc. provided transaction advisory and financial due diligence services to Calgary Co-operative Association Ltd.
Transaction Brief
This transaction supports the expansion of Calgary Co-operative Association Ltd. (Calgary Co-op)'s commitment to health and wellness, while providing Calgary Co-op members with the benefit of annual net earnings from the Community Natural Foods business.
Owned by members, Calgary Co-op. is one of the largest retail co-operatives in North America, with locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore, Alberta. With more then 400,000 members, 3,850 employees, assets of $627 million and annual sales of $1.3 billion, Calgary Co-op. was recognized as one of Alberta's Top 75 Employers of 2019.
A well-established organic and natural food retailer, Community Natural Foods was started in 1977 by the Wilkes brothers. The sale is part of the succession plan for Community Natural Foods’ owners and represents a coming together of two long-time community-focused Calgary retailers.