Otter Co-op liquor store in Aldergrove. (Aldergrove Star files)

Otter Co-op liquor store in Aldergrove. (Aldergrove Star files)

Otter Co-op set to acquire Liquor Depot, Liquor Barn and Wine Cellar stores

Transaction is expected to close on March 31, and could bring an additional $85 million in sales

Otter Co-op has entered into an asset purchase agreement to acquire 19 Liquor Depot, Liquor Barn and Wine Cellar stores located in the Lower Mainland and Okanagan.

Pending completion of customary conditions and consents, the transaction is expected to close on or about March 31, 2021.

Chief Executive Officer Jack Nicholson said the strategic acquisition aligns with Otter’s long-term goal of growing and improving current diversified business lines and to continue to provide membership benefits and returns to member/owners.

“This acquisition is expected to bring an additional $85 million in sales to Otter Co-op in the first year, and add in excess of $5 million in bottom line net savings,” Nicholson explained.

READ MORE: Co-op says members should not be concerned after private Mountain Equipment sale

“Along with our current six liquor stores, it will position Otter Co-op as the largest private liquor retailer in the province, and see our total liquor division sales exceed $100 million,” he continued.

The acquisition will also allow Otter Co-op to expand opportunities in private label wine, beer and spirits.

As well, Otter will offer employment to the 217 team members that are currently working at these locations.

Cities with Otter-acquired stores include Vancouver, Vernon, Kamloops, Surrey, Coquitlam, Kelowna, Chilliwack, Abbotsford, and West Kelowna.

“We look forward to transitioning these locations to the Angry Otter Liquor brand, as we continue to grow and offer new products and services to our growing membership base,” Nicholson added.


Have a story tip? Email: newsroom@aldergrovestar.com

Like us on Facebook and follow us on Twitter.

AldergroveLangley Township

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Police tape is shown in Toronto Tuesday, May 2, 2017. (Graeme Roy/The Canadian Press)
CRIME STOPPERS: ‘Most wanted’ for the week of Feb. 28

Crime Stoppers’ weekly list based on information provided by police investigators

The Alzheimer Society of BC is hosting a number of webinars next month to help people prepare for financial and healthcare needs. (Contributed photo)
Alzheimer Society invites White Rock residents to series of educational webinars

Planning Ahead: Do it Now! webinar to be held March 10

South Surrey’s Elizabeth and Marcel Bergmann – the Bergmann Piano Duo – will present another colorful Surrey Civic Theatres Digital Stage concert., premiering online March 11. Contributed photo
South Surrey pianists Bergmann Duo blend musical colours

Rhapsody In Blue meets The Red Violin in online concert

St. John Ambulance is looking for financial support in its bid to install 1,000 publicly accessible AED devices throughout British Columbia. The stands which hold the defibrillator also contain naloxone and first aid kits. Cost to equip and install each stand is around $8,000. (stock photo)
St. John Ambulance aims to install 1,000 publicly accessible AEDs across B.C.

First of two defibrillators planned for Crescent Beach already in place

(Black Press - file photo)
WEATHER: Enjoy the sun today, prepare for a week of rain

Clouds and rain to arrive by evening, Environment Canada forecasts

An animated Gordie Hogg introduces his 'Community Connections' videos. (YouTube screenshot)
Community Connections: Gordie Hogg speaks with Lorne Ginther

Former mayor, MP began posting conversations on YouTube in June

Alina Durham, mother of Shaelene Bell, lights candles on behalf of Bell’s two sons during a vigil on Saturday, Feb. 27, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO and PHOTOS: Candlelight vigil for missing Chilliwack woman sends message of hope

Small group of family, friends gathered to shine light for 23-year-old mother Shaelene Bell

Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Approximate location of the vehicle incident. (Google Maps)
Vehicle incident blocking Coquihalla traffic in both directions

Both directions of traffic stopped due to vehicle incident

Judith Uwamahoro is Black, approximately 4’7″ tall, 80 pounds and has short black hair and brown eyes. (Surrey RCMP handout)
UPDATED: Lower Mainland 9-year-old located after police make public plea

Judith Uwamahoro went missing Friday at around 4 p.m. in Surrey

Five-year-old Nancy Murphy wears a full mask and face shield as she waits in line for her kindergarten class to enter school during the COVID-19 pandemic on Tuesday, September 15, 2020. THE CANADIAN PRESS/Nathan Denette
Variant of concern linked to COVID-19 outbreak at three Surrey schools

Cases appear to be linked to community transmissions, but schools will remain open

BC Ferries experienced heavy traffic on Feb. 27 following cancellations the day before due to strong winds and adverse weather. (Black Press Media file photo)
BC Ferries sailings fill up quickly after Friday cancellations due to high winds

Waits expected on Swartz Bay-Tsawwassen route, Horseshoe Bay-Departure Bay route

Most Read