Gardenland Co-op continues to find new ways to diversify its offerings so it’s better able to weather ever-changing economic climates.
At its 94th annual general meeting last week, Co-op announced its latest acquisition: Venture Parts & Supply in Morden.
The business, located on 9th St. beside Co-op’s cardlock, begins operating under the Gardenland banner this week, with all current staff staying on, Co-op general manager Evan Toews told the assembled crowd of members April 22.
“This business has grown over the past few years since they’ve started and this acquisition represents an exciting step forward in enhancing the services that we offer in Morden,” he said, explaining the location will continue to provide a wide variety of agricultural and industrial parts and supplies.
While the Co-op grows in one area, it’s also shutting down one longtime department in Winkler: Fashions by Co-op will close its doors for good this summer.
“After nearly 20 years of continuous significant financial losses, many attempts to change the operations, products, and locations, it became clear that continuing operations in this department was no longer sustainable,” Toews said, explaining the shop simply wasn’t able to compete with larger chain and discount stores and online shopping. “We don’t have the buying power to purchase the way that they do. By the time we get these products into our store they are often available at a large discount from some of these large retailers.”
The lease was also up on the 1st St. building and rent was set to increase significantly, Toews shared.
“All of this added together made the long-term look worse than the past. It wasn’t a decision that we made lightly. We know it served a loyal group of members and held a meaningful place in our Co-op for many years, but as stewards of this organization we have to ensure long-term sustainability and focus our energy and resources on where we can have the greatest impact.”
The staff in that department will be given the opportunity to transfer elsewhere within the Co-op, if they wish.
In addition to these announcements regarding future developments at Co-op, the board of directors also shared some of the many highlights of 2024.
These include completing the merger with St. Joseph Co-op, opening a pharmacy and completing renovations at the Morden food store, rolling out the name change from Winkler Co-op to Gardenland Co-op, and purchasing 204 Main St. in Winkler for the company’s new administrative offices.
Renovations at the former credit union building are wrapping up and admin. staff should be moved in within the next few weeks, Toews said. The old offices in Co-op’s main building will be the new home to Extend Insurance come July.
The fiscal year saw Gardenland Co-op hit total sales of $159.2 million, up from the $144.8M of the year before. Net income before taxes was $5.7M. Member’s equity and reserves total $57.2M, with total Co-op assets coming to $86.1M.
The company donated over $500,000 to more than 300 community projects, events, and causes in 2024, directors shared.
Membership grew to a total of 22,015, up 1,209 from the year before, including many new members from the Rosenort and St. Joseph areas due to the mergers of recent years.
Thanks to the strong sales year, Co-op announced a patronage allocation of $4.3M to its members at a rate of 4.5 per cent for fuel, five per cent for oil, 1.5 per cent for fertilizer, zero per cent for agro equipment, 1.5 per cent for chemicals, 3.25 per cent for food/fashion, and one per cent for appliances.
Board chair Milt Olfert said the Co-op is in great shape financially and they have high hopes for the future.
“Even in a rough economy, it seems people are really supporting local, and that’s what the Co-op is all about,” he said. “And if we can keep that going and we keep giving back to the community and the community keeps giving back to Co-op, we’re going to be okay.
“We appreciate the continued support,” Olfert added. “It gives us great joy to be able to give back and to see all these communities continue to thrive.”
The board is always looking for ways to diversify and strengthen the organization, Olfert noted.
“We entertain everything to see whether it fits into our mission statement, into our core values,” he said, adding that the purchase of Venture Parts made great sense given the success and location of that business. “I think it’s going to be good for everybody.”
Co-op’s directors bid a fond farewell to Eric Peters, who did not seek re-election after 14 years on the board.
The terms of Darren Heide and Chris Kalansky were also at an end, though both retained their seats for another three years after the members voted them back in. Joining them to fill Peters’ seat is Carrie Hennan.
Rounding out the board is Olfert, Dinah Elias, Guy Damphousse, Richmond Delorme, Gordon Earl, and Grant Fehr.
