Vancouver Island company Peninsula Co-op, best known for its chain of gas stations, has its eyes set on six new liquor stores in Greater Victoria, as well as one in Nanaimo.
The company announced Thursday that it is in the final steps of acquiring seven Liquor Express locations on the island.
The acquisitions are part of the company’s goal of diversifying its business.
“While valuing our origins as a community-based member-owned organization, we are thrilled to expand our footprint of retail liquor locations,” said Peninsula Co-op CEO Corey Gillon in a release Thursday.
“Undoubtedly, this transaction signifies a shift that supports the scaling of our existing retail platform and enables us to continue on the path of increased presence in the retail liquor sector,” he said.
SEE ALSO: We went searching for Peninsula Co-op member #1
Peninsula Co-op already operates two liquor stores on Vancouver Island, including one PenCo Liquor store located in Saanich and another located in Langford.
The company says it intends to keep all staff at the seven Liquor Express locations that it is acquiring.
The transaction is expected to close in mid-September, pending the completion of due diligence and regulatory approvals, according to the company.
The seven locations that company plans to acquire can be found below:
- Yates St. at Blanshard, Downtown Victoria
- Wilkinson Rd at Interurban, Saanich
- Six Mile at Island Hwy, View Royal
- Keating Centre, Saanichton
- Tillicum Mall, Saanich
- Esquimalt Plaza, Esquimalt
- Selby St., Nanaimo
Adam Chan
