Strong showing from Co-op on Sask. Top 100 list

September 21, 2018

Co-op continues to be an important driver of Saskatchewan’s economy and is making sizable investments to support the province’s future growth.

Twenty-one local Co-ops are included SaskBusiness Magazine’s 2018 ranking of the Top 100 companies in Saskatchewan. They’re joined on the list by Saskatoon-based Federated Co-operatives Limited (FCL), which placed second in the rankings. Combined, FCL and these retail co-ops had sales of almost $12.4 billion in 2017. That includes $9.8 billion in revenue — with $575 million in net earnings — recorded by FCL.

“Co-op is a diverse and resilient network of locally owned organizations that continue to answer challenges, create opportunities and deliver important goods and services, just as they have done for generations,” said FCL CEO Scott Banda. “This success is the product of strong relationships with Co-op members and customers, the commitment of employees to their communities and the significant investments local retail co-ops are making to position themselves for the future — meaningful activities that will generate long-term benefits in Saskatchewan and throughout all of Western Canada.”

Economic impact in Saskatchewan

Today, there are 99 local Co-ops in Saskatchewan operating hundreds of food stores, home centres, gas bars, commercial cardlock facilities, agro centres and liquor outlets. This network is supported by the wholesale, manufacturing, marketing and administrative operations of FCL, which includes the Co-op Refinery Complex in Regina.  

Together, FCL and these retail co-ops employ close to 10,000 people in Saskatchewan. In the last five years, they have made the following investments that have benefited communities of all sizes:

• $395 million returned to Co-op members and customers in Saskatchewan in the form of patronage dividends.
   
• $467 million invested by local Co-ops in new, upgraded or expanded facilities in Saskatchewan.
   
• $3.5 billion invested in capital projects across Western Canada by FCL, including fertilizer terminals, petroleum manufacturing and distribution systems and upgrades to the Co-op Refinery Complex in Regina.  

Co-ops in the SaskBusiness Top 100