The Slocan Valley Co-op (SVC) has announced that they have purchased The Dam Restaurant & Bar.
“This latest investment begins a new chapter for the Co-op after previously announcing intentions to seek solid opportunities for diversification,” said SVC in a statement last month.
SVC says the location in the heart of their trading area along with the business’s fantastic reputation for providing an excellent guest experience, made it perfectly aligned to the Co-op’s values.
“Co-operatives throughout Western Canada have been focusing on new opportunities beyond the conventional retail commodities we’re used to seeing with gas bars, convenience stores, card-locks, food stores, etc.,” says General Manager Chris Sapriken.
“A relatively new department at Federated Co-operatives Limited (FCL) has been providing services to assist Co-op’s in evaluating business viability and feasibility. Substantial effort from management was put in, supported by the business development specialists at FCL to conclude The Dam represented a solid investment for the Co-op’s member-owners.”
Current employees at The Dam have all been given offers of employment, said SVC.
SVC says there are several plans in the works to investigate possible synergies to enhance products and services between The Dam and the Co-op’s network of convenience stores.
The official change of ownership will take place on Feb. 1.
SVC acquired the Castlegar Husky in August 2023 and Husky sites in Nelson and Glenmerry in 2022.