FCL leases three Winnipeg food stores
June 18, 2018
Three food stores currently owned and operated by Federated Co-operatives Limited (FCL) surrounding Winnipeg will be leased to and managed by Red River Co-op.
The Marketplaces stores in Selkirk (335 Main St.), Stonewall (420 Main St.) and Lorette (11 Laramee Dr.) will become Co-op Food Stores in a transaction expected to close July 19, 2018.
“FCL’s primary business is serving the more than 180 independent retail co-operatives across Western Canada, largely as a wholesaler,” said Patrick Smith, Vice-President of Retail Operations at FCL. “This is an opportunity for Red River Co-op to expand its network and allow FCL to step back from directly operating brick and mortar stores.”
Customers can expect uninterrupted service during the transition. There are 150 employees working at these stores that will be retained, so customers will continue to see the familiar faces, products and services from Co-op they have always enjoyed.
“Red River Co-op’s leasing of the three Marketplace food stores was driven by a desire to add an additional service to our members living outside of Winnipeg,” says Red River Co-op CEO Doug Wiebe. “Because of Red River Co-op’s strong market performance and solid financial base, now is the perfect time to expand our food business with the support of our new employees.”
Plans are in the works to change some of the branding elements from The Marketplace to Co-op in the coming weeks. Red River Co-op is also working to finalize plans to upgrade these locations to its latest image standards.
Adding food stores to three new markets is an opportunity for customers to become Red River Co-op members and enjoy lifetime membership benefits, including profit sharing. Red River Co-op currently operates three food stores, one standalone pharmacy, six cardlocks and 35 gas bars, with a presence already in Stonewall and Selkirk.
FCL remains committed to rebuilding the St. Norbert Marketplace food store and will provide updates on any developments as they become available.