Mid-September marks an anticipated milestone for Peninsula Co-op after reaching an agreement with the owners of Liquor Express to purchase seven retail locations located on Vancouver Island.
Six of those locations are located in Greater Victoria and the other is in Nanaimo.
“Pending completion of due diligence and customary closing conditions, including regulatory approvals, the transaction is expected to close in mid-September,” said a news release.
This expansion comes as part of the co-operative’s overarching strategy to broaden its operational horizon and fortify its presence within the region.
The seven retail locations included in this acquisition are strategically positioned to cater to a wide array of customers:
- Yates Street at Blanshard, Downtown Victoria
- Wilkinson Road at Interurban, Saanich
- Six Mile at Island Hwy, View Royal
- Keating Centre, Saanichton
- Tillicum Mall, Saanich
- Esquimalt Plaza, Esquimalt
- Selby Street, Nanaimo
For Peninsula Co-op, this acquisition mean big changes in the company.
“We’re excited to expand our retail liquor footprint while maintaining our commitment to community-based, member-owned principles,” states Corey Gillon, the CEO of Peninsula Co-op.
“While valuing our origins as a community-based member-owned organization,” says Corey Gillon, CEO of Peninsula Co-op. “Undoubtedly, this transaction signifies a shift that supports the scaling of our existing retail platform and enables us to continue on the path of increased presence in the retail liquor sector.”
The company said it intends to retain existing team members from the Liquor Express locations.