Organic Canadian grocer Calgary Co-op is forging alliances as a means of presenting a united front against mega retailers. According to Yahoo! News, this has led the retailer to acquire Community Natural Foods, which will help it accelerate its growth and sharpen its competitive edge.
"For Calgary Co-op's food business to survive and thrive in the long term, we must work locally to increase the relevance of our unique offering of products and services to members' lifestyles," said Calgary Co-op CEO, Ken Keelor, in a press release.
As part of the acquisition, Community Natural Foods will act as an independent subsidiary, allowing the chain to retain its current staff and management structure.
"It's been an amazing 42-year journey and it was my personal wish to sell to a buyer who would steward the Community Natural Foods business and brand carefully and thoughtfully," Garry Wilkes, Co-Founder of Community Natural Foods, commented.
Community Natural Foods was founded in 1977 and has since expanded to three stores, while maintaining its commitment to local and organic products.
Calgary Co-op generates annual sales of $1.3 billion, and the retailer has stores throughout the city of Calgary and its neighboring communities.
Deli Market News will continue to report on the latest acquisitions as they relate to the deli, dairy, bakery, and specialty foods space.