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Liquor Depot purchased by Armstrong Regional Co-op. (photo credit: Google Maps)
Diversification

Armstrong Regional Co-op buys liquor store

Apr 28, 2021 | 11:10 AM

Member owned Armstrong Regional Co-operative (ARC) is diversifying its operation, with the purchase of the Liquor Depot, near Walmart in the north end of Vernon.

ARC currently operates fuel cardlock locations in Armstrong, Canoe and Scotch Creek, gas bars in Armstrong, Vernon and Salmon Arm, and now the liquor store at #200-2401-58th Avenue.

Members get a share of the profits made by ARC, with this year’s dividend amounting to four per cent of any purchases made, totalling $2.1 million dollars returned to members. The organization also provides various community groups with funding and fundraising opportunities.

A lifetime membership costs $10.

ARC notice (photo credit: Armstrong Regional Coop)

According to the cooperative, there are over 9,000 co-operatives, credit unions, and mutuals in Canada and over 750,000 across the world. They’re widely supported – 83 per cent of Canadians say they would rather buy their products at a co-operative than a private business.

Together, Canadian co-operatives have over 18 million members and employ more than 150,000 people. Co-operatives are major players in many sectors in Canada, from agriculture to retail and wholesale business.

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