Federated Co-operatives

Federated Co-operatives Limited
Cooperative federation
Industry Distribution
Petroleum
Lumber
Founded 1955[1]
Headquarters Saskatoon, Saskatchewan
Key people
 Scott Banda, CEO[2]
Revenue $10.8 billion (2014)
655.4 million (2014)
Number of employees
 23,000 [3]
Website FCL Home Page

Federated Co-operatives Limited (FCL), is a co-operative federation, established in 1955, providing procurement and distribution to member co-operatives in Western Canada.[4] Federated Co-operatives is owned by about 365 member co-operatives across the region. Some are large co-operatives, such as Saskatoon Co-op and Calgary Co-op, while others are small co-ops based in small towns, such as Abernethy Co-op.

In 2009, FCL was ranked as the largest co-operative in Canada by total sales.[4] In 2010, FCL was the second largest company by annual sales in Saskatchewan.[5] During that year, it earned revenues of 498 million and returned $355.7 million to its member retailers. In 2008 Federated Co-operatives saw sales increase and posted its 37th record year in a row for both sales and profits.[6]

History

FCL purchased Downie Street Sawmills of Revelstoke, British Columbia in 1969. The forest products operation replaced a Smith, Alberta, business FCL sold in 1977.[7]

In March 2010, Federated Co-operatives announced an agreement with SeaChoice, a program of Sustainable Seafood Canada devoted to sustainable seafood. Through collaboration, the organizations seek to develop a long term sustainability strategy for seafood sales and procurement in the co-operatives' member businesses.[8]

Federated Co-operatives was awarded the SABEX Environmental & Sustainabiltiy award from the Greater Saskatoon Chamber of Commerce in May 2010.[9]

In November 2012, FCL sold its Forest Products Division operations in Canoe, British Columbia to Gorman Bros. Lumber.[10] In August 2013, FCL acquired 17 agri-business locations across Saskatchewan, Alberta, and one in Manitoba, from Viterra, which was in the process of selling its Canadian agriculture business to Agrium. All the stores were, in turn, sold to local FCL-affiliated co-operatives except two which FCL retained and later closed.[11][12][13] In February 2014, Federated Co-operatives acquired 14 grocery store locations from Sobeys; the divestment was to comply with requirements imposed by the Competition Bureau in the wake of its 2013 acquisition of Safeway. These stores, which were mainly former Safeway locations, were given to local FCL-affiliated co-operatives and re-branded as Co-op stores in May 2014. The acquisition notably marked the first time since 1983 that Red River Co-op had operated grocery stores in its footprint.[14][15][16]

Services

Key services fall into the following categories:

Store brands

Federated Co-operatives markets several store brands at its affiliated retailers, including Co-op Gold, Market Town, Centsibles (discount-oriented), and Care+ (pharmacy).[17]

References

  1. ↑ "Federated Co-operatives Limited". Bloomberg Businessweek. Retrieved June 19, 2015.
  2. ↑ Kyle, Cassandra (March 4, 2008). "Co-ops eye next generation". The StarPhoenix. Saskatoon. Retrieved June 19, 2015.
  3. ↑
  4. 1 2 Stewart, Iain. "Federated Co-Operatives Limited". Encyclopedia of Saskatchewan. University of Regina. Retrieved June 19, 2015.
  5. ↑ "2011 Top 100". Saskatchewan Business Magazine. Retrieved June 19, 2015.
  6. ↑ "Federated Co-operatives sees sales increase". The StarPhoenix. December 18, 2008. Retrieved June 19, 2015.
  7. ↑ "Canada Packers profit stable". Montreal Gazette. January 23, 1979. Retrieved June 19, 2015.
  8. ↑ "SeaChoice, FCL Forge Sustainable Seafood Partnership". Progressive Grocer. March 23, 2010. Retrieved June 19, 2015.
  9. ↑ "FCL wins SABEX Award For Environmental Sustainability" (PDF) (Press release). FCL. May 18, 2010. Retrieved June 19, 2015.
  10. ↑ "Gorman Bros. Lumber Ltd. acquires forest product assets from FCL" (PDF) (Press release). Gorman Bros. Lumber Ltd. November 7, 2012. Retrieved 24 June 2014.
  11. ↑ Pratt, Sean (September 5, 2013). "FCL confident purchase of Viterra input stores will see returns". The Western Producer. Retrieved June 19, 2015.
  12. ↑ "Glencore bids $16.25 for Viterra shares". CBC News. March 20, 2012. Retrieved June 19, 2015.
  13. ↑ "Co-ops seal deal for Viterra stores, will shut two". AGCanada. November 7, 2013. Retrieved June 19, 2015.
  14. ↑ "Canada Safeway's changeover a co-operative effort". Leader Post. Regina. Retrieved 24 May 2014.
  15. ↑ Kirbyson, Geoff (February 13, 2013). "Four Winnipeg Safeway stores sold to Red River Co-op". Winnipeg Free Press. Retrieved June 19, 2015.
  16. ↑ Duffy, Andrew (February 13, 2014). "All Victoria Safeway stores sold to Overwaitea Food Group". Times Colonist. Victoria, BC. Retrieved June 16, 2015.
  17. ↑

External links

Further reading

This article is issued from Wikipedia - version of the 10/31/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.