FS PARTNERS GP

FS PARTNERS GP
Waterloo-Oxford Co-operative Inc.

Waterloo-Oxford Co-operative Inc.

November 15, 2006 15:13 ET

Waterloo-Oxford Co-operative Inc. is Newest Partner of FS PARTNERS GP

KITCHENER, ONTARIO--(CCNMatthews - Nov. 15, 2006) - Farm supply co-operative Waterloo-Oxford Co-operative Inc. announced today that it has become a shareholder and partner of FS PARTNERS GP, effective Nov 1.

Waterloo-Oxford Co-operative had previously been in a management agreement with FS PARTNERS where the conglomerate managed the operations of the co-operative for its members. In addition to its own locally-elected board of directors, Waterloo-Oxford Co-operative also has elected representation on the 12-person board of directors of FS PARTNERS.

FS PARTNERS was founded last year as a means for some co-operatives to split administrative and marketing costs and work with their supplier, GROWMARK Inc., to share the risks and benefits of selling directly to the farm gate.

Under the FS PARTNERS business model, local co-operatives retain their local identity and governance, says FS PARTNERS CEO Jaye Atkins. "They gain economies of scale, more capital for growth, and the benefits of a larger organization to attract and retain top talent," he adds.

Under the previous management agreement, administration of the co-operative had already moved to the FS PARTNERS headquarters in Kitchener, Ont.

FS PARTNERS GP has as its owners/partners: Inland Co-operative Inc., Simcoe District Co-operative Services, Waterloo-Oxford Co-operative Inc., and GROWMARK, Inc. It serves about 25,000 members and customers through 31 locations.

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