Community Natural Foods Grocery Stores Bought by Calgary Co-op
CALGARY, CANADA - As smaller grocers continue to struggle under the weight of mega retailers, alliances can go far. Canadian grocer Calgary Co-op has made its own move to accelerate growth and sharpen its competitive edge, with the recent acquisition of Community Natural Foods.
"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 Calgary Co-op CEO, Ken Keelor, in a press release.
According to Yahoo! News, Calgary Co-op intends to run its newly-acquired banner as an independent subsidiary, allowing Community Natural Foods to retain its current staff and management structure. Calgary Co-op generates annual sales of $1.3 billion, and the retailer has stores throughout the city of Calgary and its neighboring communities.
Community Natural Foods was founded in 1977 and has since expanded to three stores, while maintaining its commitment to local and organic products.
"It's been an amazing 42-year journey and it was my personal wish to sell to a buyer who would steward the Community Natural Foods business and brand carefully and thoughtfully," Garry Wilkes, Co-Founder of Community Natural Foods, commented.
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