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6 Greater Victoria liquor stores being bought in ‘transformational’ deal

Deal also includes store in Nanaimo
A giant deal is being completed to purchase 7 Liquor Express stores. (Don Denton/Black Press Media)

Six Greater Victoria Liquor Express stores, and one in Nanaimo, are set to be bought in what the buyer calls a “transformational” deal.

Peninsula Consumer Services Co-operative announce Thursday (Aug. 10) that it has entered into an agreement with the owners of Liquor Express to purchase seven retail locations located on Vancouver Island.

“Pending completion of due diligence and customary closing conditions, including regulatory approvals, the transaction is expected to close in mid-September,” said a news release.

Included in this acquisition are:

Yates Street at Blanshard, downtown Victoria

Wilkinson Road at Interurban, Saanich

Six Mile at Island Highway, View Royal

Keating Centre, Saanichton

Tillicum Mall, Saanich

Esquimalt Plaza, Esquimalt

Selby Street, Nanaimo

“This transformational acquisition signals a bold move in supporting the strategic goal of diversification at Peninsula Co-op and offers an unprecedented opportunity of incremental growth to the business,” reads a statement.

Peninsula Co-op said will mean big changes in the company.

“While valuing our origins as a community-based member-owned organization, we are thrilled to expand our footprint of retail liquor locations,” says Corey Gillon, CEO of Peninsula Co-op. “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.”

The company said it “intends” to retain existing team members from the Liquor Express locations.

READ MORE: ‘Sad news’: Customers react as iconic Saanich deli to close after 46 years

Chris Campbell

About the Author: Chris Campbell

I joined the Victoria News hub as an editor in 2023, bringing with me over 30 years of experience from community newspapers in Metro Vancouver and the Fraser Valley
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