FCL leads SaskBusiness Top 100 list, joined by 19 retail co-ops

September 14, 2016

For the fourth year in a row, Federated Co-operatives Limited (FCL) has placed first in SaskBusiness Magazine’s list of the Top 100 largest companies in Saskatchewan.

In 2015, FCL recorded revenue of $9.1 billion with net earnings of $539 million. Of that, $375 million was returned to the 200 local retail co-ops across Western Canada that are member-owners of FCL.

"While we have been impacted by the economic challenges in Western Canada, particularly in the energy sector, we have diverse businesses in a wide geographical area and that has helped us stay competitive. Co-op members are resilient and loyal and that stability allows us to bring a long-term approach to planning and creating sustainable growth,” said FCL CEO Scott Banda.

"Through these conditions, local retail co-ops in Saskatchewan and across Western Canada continue to serve communities big and small, while making new investments that strengthen our provinces."

FCL is joined on this year’s Top 100 list by 19 retail co-operatives in Saskatchewan. Together, the retail co-ops included in the SaskBusiness list recorded combined sales of nearly $2.3 billion in 2015. A full list of these retail co-ops is shared below.

Economic impact

The number of co-ops on the Top 100 list highlights the substantial impact that the Co-operative Retailing System (CRS) — comprised of local retail co-ops and FCL — has in Saskatchewan. Retail co-ops have returned almost $355 million to their members in Saskatchewan over the last five years, which is reinvested by these members in their communities. A total of $1.3 billion was returned by western Canadian co-ops to their members over the past five years.

Investments in Saskatchewan

FCL, on behalf of retail co-ops, has also made major investments in Saskatchewan and Western Canada over the last year, including:

• Wastewater Improvement Project (WIP) — The Co-op Refinery Complex (CRC), a subsidiary of FCL, commissioned a $200-million environmental mega-project that allows it to clean and recycle all of its wastewater.
• New fertilizer terminals — FCL invested $75 million to construct two new high-throughput fertilizer terminals in Western Canada, including one in Hanley, Sask., and another in Brandon, Man. Both facilities are expected to be fully operational in early 2017.
• Co-operatives First — FCL committed $5 million over five years to support Co-operatives First, a new non-profit organization that is helping to inspire the next wave of co-operative development in rural and First Nation communities.
• Co-op Community Spaces — A total of $1.5 million from the Co-op Community Spaces program was invested in 21 recreation, conservation and urban agriculture projects in Western Canada.

Across the West, FCL and retail co-ops have reinvested $4.7 billion in their communities through capital investments since 2011.