The 2 entities will nonetheless stay separate, which means Willow Park purchases won’t apply to Calgary Co-op patronage, and the liquor retailer will keep its present loyalty program
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Calgary Co-op introduced Wednesday it’s buying Willow Park Wines & Spirits, a family-owned native liquor retailer that has been in enterprise for almost three a long time.
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The transaction includes the corporate’s two Calgary areas, in Willow Park and Eau Claire, in addition to its Regina location and its gross sales and distribution facilities in Calgary, Edmonton and Regina.
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The events declined to reveal the monetary phrases of the deal, however Calgary Co-op CEO Ken Keelor described it as a “important transaction.” The settlement is anticipated to be closed on the finish of January.
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The acquisition provides to Calgary Co-op’s portfolio, which incorporates 28 of its personal liquor shops, in addition to companies together with fuel stations, business card slots and Neighborhood Pure Meals shops, which Co-op acquired in 2019.
Keelor stated when Willow Park possession contacted his firm, it was a logical match for each events.
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“We have been taking a look at Willow Park for years, which is a good model that is been constructed over just a few years, and we have already been watching it as a result of it is a model that Calgarians love and worth,” Keelor stated Wednesday. reporters stated.
“We additionally lived in Calgary and cherished this model and we intend to proceed to nurture it.”
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No job losses are anticipated
Keelor stated Co-op will hold Willow Park Wines & Spirits as a wholly-owned subsidiary as soon as the acquisition closes.
Meaning the 2 entities will stay separate, he stated, with Willow Park purchases not relevant to Calgary Co-op patronage, and the liquor retailer sustaining its present loyalty program.
No job losses are anticipated with the acquisition, Keelor stated, including growth of the Willow Park enterprise is a future risk.
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“If something, we have now two completely different manufacturers right here to develop and develop with, and definitely Willow Park past Calgary itself,” he stated.
‘It is the proper match’
Willow Park Wines & Spirits was based by Wayne Henuset in 1994, coinciding with the privatization of Alberta’s liquor business, and has remained within the household till now.
The corporate’s outgoing proprietor, Scott Henuset, informed reporters the time was proper for the household to promote the enterprise, one he stated he had been concerned with since he was 14.
“We weren’t essentially seeking to get out of the enterprise, however once we talked to (Calgary Co-op) — they are a Calgary owned and operated firm and we simply thought, that is the proper match ,” Henuset stated.
“We’ll miss it. It’s the dwelling of myself and our brothers and wives and mom and father. We’re all right here and all of us work right here in a single capability or one other.”
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Willow Park beforehand had almost 20 shops earlier than a sale to Liquor Depot, Henuset stated.
The Henuset household can also be concerned in a number of different enterprise ventures in Calgary, together with occasion leases. Scott stated these different pursuits helped the household make the choice to promote.
“Everybody has their very own issues, so it was simple for us to maneuver on from Willow Park right now in our life, so we’re proud of this resolution,” he stated.
jherring@postmedia.com
Twitter: @jasonfherring
