Linden Hills, Wedge Co-op Consolidation
The owners of Linden Hills and Wedge Co-ops voted in record numbers in favor to consolidate our two businesses. Eastside Food Co-op will remain independent. While slightly over half of their votes were in favor of the consolidation, they did not reach the two-thirds majority needed to move forward. We are honored and excited that our owners support and trust their neighborhood co-ops to come together to continue to grow and strengthen our local food system. We are committed to working diligently to deliver on that promise and to have a positive impact on owners, employees, producers and our community.
The enthusiasm from our owners has been unprecedented. We intend to provide frequent updates to questions and progress made around this cooperative endeavor. Communication about the transition period will be posted on our websites, in newsletters, in-store messaging and social media.
Here are some of the first things you need to know:
When will consolidation officially happen?
The legal consolidation, or closing, will be executed on or before June 30, 2017. Implementation of the legal and financial components of consolidation are significant and build the important foundation for the future of the co-op.
What can I expect between now and then?
Your shopping experience should remain unchanged. On an implementation level, we have an operations transition team in place. This team will identify all consolidation related issues and create and implement a strategic plan to ensure a successful consolidation process. Over the coming months, the two Boards of Directors will select a consolidated co-op Board, and after that store councils will be formed to ensure continuity of store and neighborhood priorities.
When will my owner benefits be available at each location?
There will not be any immediate changes in terms of owner benefits and pricing. Legally, owner benefits cannot begin until the official closing of the consolidation, which we anticipate to be June 30, 2017 or earlier.
What will happen with my patronage refund?
Both the Wedge and Linden Hills Co-ops are on the same fiscal year (July 1 – June 30). Patronage dividends for fiscal year 2016 (July 1, 2016 – June 30, 2017) will be specific to each co-op. Consolidated co-op sales and patronage will begin July 1, 2017.
2016 Consolidation Results
Linden Hills Co-op
Yes 746 votes, 87.3%
No 109 votes, 12.7%
Wedge Community Co-op
Yes 1552 votes, 81.9%
No 343 votes, 18.1%
Eastside Food Co-op
Yes 633 votes, 51.3%
No 600 votes, 48.7%