Calgary Co-op to acquire Willow Park Wines & Spirits
By Food in Canada StaffBusiness Operations Beverages Alberta Calgary Co-op Editor pick Willow Park Wines & Spirits
A wholly owned subsidiary of Calgary Co-op enters into a definitive agreement to acquire all shares of Willow Park Wines & Spirits and some subsidiaries. The transaction is expected to close sometime this year.
This definitive agreement contemplates the acquisition of the entire Willow Park Wines & Spirits business including its two Calgary locations, Regina location, and its B2B sales and distribution centres in Calgary, Edmonton and Regina.
Willow Park Wines & Spirits was established in 1994 by the Henuset family. Scott Henuset, outgoing owner of Willow Park Spirits & Wines said, “We have found a great partner and we are thrilled the business will continue to be locally owned. Through this acquisition, Willow Park Wines & Spirits will continue to grow as a brand in its key markets.”
After closing the acquisition, Calgary Co-op plans to keep Willow Park Wines & Spirits as a wholly owned subsidiary of Calgary Co-op. Accordingly, as a separate entity, purchases at Willow Park Wines & Spirits will not apply to Calgary Co-op patronage. Willow Park Wines & Spirits will also continue to maintain its current loyalty program.
Ken Keelor, CEO of Calgary Co-op, said, “The acquisition of Willow Park Wines & Spirits demonstrates our ongoing investment in the community and our business. This represents the coming together of two long-time, community-focused Calgary retailers with deep roots in the Calgary community. We look forward to building on the strong legacy of the Willow Park brand. We are committed to the Willow Park Wines & Spirits team, and we will learn from them to create new opportunities together.”
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