Federated Co-operatives Limited surpasses 10 billion in sales for the first time

Jan 29, 2015
FCL

Federated Co-operatives Limited (FCL) achieved record sales of $ 10.8 billion in 2014. This represents an increase of 15% over last year revenues.

FCL grew in all strategic business areas - energy, food, building materials, and agronomy. This growth was driven by the acquisition of the operating assets of Viterra in late 2013 and Sobeys in February 2014, which were then converted to retail cooperatives.

"Our main purpose is to create long-term sustainable value for our local retail co-op members, who in our model also happen to be our owners," said FCL CEO Scott Banda.

FCL is the largest company in Saskatchewan and the 45th largest in Canada. It is also the largest non-financial co-operative in Canada and the 58th largest co-op worldwide.