The Slocan Valley Co-operative Association is pleased to announce the purchase of two Husky retail fuel sites. These sites allow us to grow our sevices in existing communities and enable us to expand into new areas.
"This purchase signals our commitment to investing in the communities we live, work and play. With more retail locations, we will be able to meet the needs of even more Co-op members and customers," says Chris Sapriken, General Manager. "It is an investment for now and for the long term, making us better able to support the local communities we serve as we seek to make future investments factoring greater diversity. Another huge benefit from this purchase is that the operating profits remain local, which is reinvested to further maximize benefits to members, employees and communities."
The retail fuel sites will be purchased from Federated Co-operatives Limited (FCL), the wholesale service provider for the Co-operative Retailing System (CRS) as part of its agreement to acquire 171 Husky retail fuel sites from Cenovus Energy Inc., which was announced in November 2021. The Slocan Valley Co-op will officially take ownership of these sites on September 13, 2022.
On August 25, the Canadian Competition Bureau approved the transaction with FCL to proceed with the acquisition. The deal includes a mix of gas bars, on-site car washes and convenience stores. 23 Co-op's will be purchasing sites from FCL through this deal.
The Slocan Valley Co-op will be purchasing the Husky sites in Nelson and Trail. Co-op will acquire the Husky dealer contracts and the dealer operators will continue to run the Husky sites as they currently exist at this time. The total investment of $4.3 million also includes acquiring the delivery contracts to the independently owned Husky sites in Creston and Kaslo. FCL is generously providing a portion of this investment.
Over time, these sites will convert to Co-op or the Tempo brand. Fow now, the Husky sites will continue to operate as Husky stores, which means Co-op members will not be able to use their Co-op number. Co-op members will be able to use their numbers when the Nelson site converts to the Co-op brand in the future. We do not expect customers to be immediately impacted by this change. While branded as Husky, the fuel sites will continue to operate as Husky sites, providing most products and services that have been available.
- Existing Husky Rewards members can view our Customer FAQ page for more details.
Co-op members will certainly benefit from this acquisition. All local Co-op associations are owned by their members. Over the last ten years our Co-op returned more than $2.6 million in patronage allocations to members who shop at our Slocan Park retail or utilize our cardlock and receive fuel and lubricant deliveries from our Castlegar Petroleum department. This is money that goes back into our communities. That is, and will continue to be the strength of the Co-operative Retailing System. The acquisition will further support our members and our communities.
For more information please contact:
Chris Sapriken - General Manager
PO Box 10 - Slocan Park, BC - V0G2E0
Phone: 250-226-7433 Ext 221