For the fourth year in a row, Federated Co-operatives Limited (FCL) has placed first in SaskBusiness Magazine鈥檚 list of the Top 100 largest companies in Saskatchewan, and the Yorkton Co-operative Association is among the 19 retail co-operatives also on that list.
The Kamsack Co-op grocery and C-store are part of the Yorkton Co-op Association.
In 2015, FCL recorded revenue of $9.1 billion with net earnings of $539 million, said a release from Cameron Zimmer, communications manager for Federated Co-operatives Ltd. Of that, $375 million was returned to the 200 local retail co-ops across Western Canada that are member-owners of FCL.
"While we have been impacted by the economic challenges in Western Canada, particularly in the energy sector, we have diverse businesses in a wide geographical area and that has helped us stay competitive,鈥� said Scott Banda, FCL CEO. 鈥淐o-op members are resilient and loyal and that stability allows us to bring a long-term approach to planning and creating sustainable growth.
鈥淭hrough these conditions, local retail co-ops in Saskatchewan and across Western Canada continue to serve communities big and small, while making new investments that strengthen our provinces."
FCL is joined on this year鈥檚 Top 100 list by 19 retail co-operatives in Saskatchewan. Together, the retail co-ops included in the SaskBusiness list recorded combined sales of nearly $2.3 billion in 2015.
The Yorkton Co-operative Association Ltd. placed 65th on the list.
The number of co-ops on the Top 100 list highlights the substantial impact that the Co-operative Retailing System (CRS), comprised of local retail co-ops and FCL, has on Saskatchewan, the release said. Retail co-ops have returned almost $355 million to their members in Saskatchewan over the last five years, which is reinvested by these members in their communities.
A total of $1.3 billion was returned by western Canadian co-ops to their members over the past five years.
FCL, on behalf of retail co-ops, has also made major investments in Saskatchewan and Western Canada over the last year, including: the Wastewater Improvement Project, new fertilizer terminals, the Co-operatives First program, and Co-op Community Spaces.
Across the West, FCL and retail co-ops have reinvested $4.7 billion in their communities through capital investments since 2011.
FCL, based in Saskatoon, is the 56th largest company in Canada and the largest non-financial co-operative in Canada, the release said. FCL is a unique multi-billion dollar wholesaling, manufacturing, marketing and administrative co-operative owned by more than 200 autonomous retail co-operatives across Western Canada.
Together FCL and those local retail co-operatives form the Co-operative Retailing System (CRS), it said. 鈥淭he CRS serves our members and communities with products and services that help build, feed and fuel individuals and communities from Vancouver Island to northwestern Ontario.
鈥淥ur total workforce of 24,500 employees serve 1.8 million active individual members and many more non-member customers at 2,500 retail locations in more than 500 communities,鈥� it said. 鈥淲e are a different kind of business; we are locally invested, community-minded and offer lifetime membership benefits including patronage refunds, quality products, quality service and fair prices. More information is available at .
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