Drumheller Co-op and Westview Co-op are looking to amalgamate.
This week the two operations announced they are looking at joining forces, and are putting the question to each of its membership.
Westview Co-op has a food store, gas bar and cardlock in Olds, a food store and gas bar in Carstairs, a cardlock in Sundre and groceries, farm supplies, hardware, bulk fuels and a cardlock in Eagle Hill.
“We are excited to announce news that will ensure a solid future for the Co-operatives from both communities. With your approval, effective February 1, 2018, we will amalgamate to form a new, stronger entity known as the Westview Co-operative Association Limited,” states a press release. “Both Drumheller and Westview Co-ops are strong, ethical companies with a positive community focus and a commitment to excellence. The merging of Drumheller and Westview will allow us to build on an already successful base of business and lead us to a stronger future.”
It points out that individually, both Co-ops have done well, largely as a result of committed team members and the support of its members. However, with the competition continuing to grow and merge into large entities, it is vital to the communities that it presents the best option to ensure a long-term, sustainable presence of Co-ops in Alberta.
Members will have the convenience of shopping at 12 locations in 6 different communities while using just one Co-op number. It is estimated this amalgamation will allow for operational synergies in excess of $200,000 annually, which will allow members to enjoy enhanced Lifetime Membership Benefits.
Members will not lose any equity they have accumulated and there will be no job losses.
“We realize that change brings uncertainty and that there may be questions on the proposed amalgamation. We are committed to communicating openly to ensure members can make an informed decision on the future of our organizations,” it states.
There will be a meeting in Greentree Mall on Wednesday, October 18 at 7 p.m. where more information will be presented and the members will be asked to vote on a special resolution to amalgamate. Members of Westview Co-op will also vote in Olds, on October 19.
