Slocan Valley Co-op to purchase The Dam Restaurant & Bar
The Slocan Valley Co-op is excited to announce its members we will become the new owners of a community landmark, The Dam Restaurant & Bar.
In a recent media release, the Slocan Valley Co-op said this latest investment, which was months in the making, begins a new chapter for the Co-op after previously announcing intentions to seek solid opportunities for diversification.
“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, cardlocks, food stores, etc., “says General Manager, Chris Sapriken.
Located in the heart of the Co-op’s trading area, The Dam Restaurant & Bar is ideally situated in South Slocan with a fantastic reputation in the community for providing an excellent guest experience, making it perfectly aligned to the Co-op’s values.
“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,” Sapriken explained.
“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. Setting aside the numbers, a family restaurant like The Dam perfectly aligns with the Co-op and how our team members help our guests feel welcome.
“We felt The Dam was a perfect way to blend our Co-operative values with their team’s commitment to great service and desire to help people just have a good time.”
The current team at The Dam have all been provided offers of employment to join the Co-op, which includes eligibility to its excellent benefits package.
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. For now, the focus will be on integrating the team with the Co-op, and taking the time to learn about each other.
The official change of ownership will take place on February 1st 2024.
Interested in learning more about how to become a member-owner of Slocan Valley Co-op? Members receive equity and cash rebates from purchases at Slocan Park, Nelson and Castlegar locations. Visit the Slocan Valley website and click on Become a Member | Slocan Valley Co-op.