Co-op members in the Comox Valley and on the Saanich Peninsula have voted unanimously in favour of the two groups merging next spring.
Dave Hoy, Peninsula Co-op’s chief executive, said members attending two special meetings this week all voted in favour of the measure that will see Comox join the larger co-op under the Peninsula Co-op banner as of April 1.
The idea of merging the two companies had been talked about for years.
Peninsula Co-op has 15 gas centres between Sidney and Duncan, a commercial card lock and a food centre, while Comox Valley has two gas stations.
Hoy said the merger started to look like a real possibility after Peninsula stepped in to help manage Comox after some issues emerged a few years ago.
He said the move strengthens both firms, will result in cost savings and being able to offer a wider range of products and services.
There will be one nine-member board established, but for the first three years of the agreement there will be two directors added from Comox Valley. That will then revert to a nine-member board, with a membership advisory committee established in Comox that will meet quarterly with Peninsula Co-op management.
Account numbers for Peninsula members will not change, but Comox Valley members will have a prefix added to their numbers.
Under the terms of the proposal, the co-ops will operate under the Peninsula Co-op name. If there is further expansion, the name may evolve to reflect a more central name.
Hoy said while nothing is firm at this point, there have been discussions with other co-ops about joining the fold.
