Calgary Co-op has acquired Community Natural Foods, an organic and natural food retailer with three stores in Calgary.
The announcement was made Monday and, according to a press release, signals Calgary Co-op’s commitment to “healthy lifestyles in our communities.” Under its new ownership, Community Natural Foods will run as a wholly-owned subsidiary, with its current staff and management remaining in place.
“As representatives of our 440,000 members, Calgary Co-op’s Board is pleased support the expansion of 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,” said Calgary Co-op board chair Patricia McLeod.
To feed the growing demand for local, healthy and convenient products, Calgary Co-op said it would maintain and grow the relationships Community Natural Foods had built with its local vendors.
“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,” said Garry Wilkes, the founder of Community Natural Foods.
“I believe the Calgary Co-op team is the perfect fit as our two organizations share similar values and a deep connection to this community,” he added.
The Community Natural Foods acquisition comes mere months after Calgary Co-op said it would no longer purchase products for its grocery stores from Federated Co-operatives Limited (FCL). Calgary Co-op said the move would “better deliver choice and exceptional experiences to our members.”
“This transformation will involve working with a new food distribution partner; we will continue to work with an increasing number of local producers and growers to ensure more local products are on our shelves,” the company said at the time.