Evergreen’s Co-op food store in Rimbey, AB has been a cornerstone in the community for many years. This 22,671 sq. ft. food store shares the mall with our Home and Building Supplies Centre as well as a commercial rental unit. The mall was built in 1981 and the food store was last renovated in 2005, at which time the décor was updated and the used refrigeration equipment and assets from the Ponoka Food store closure were installed.

The food store’s refrigeration equipment is near end of life; building and equipment upgrades typically have a 20 year life (when purchased brand new) and interior décor typically has a 10 year life. Therefore, given the age of the refrigeration if nothing was done the store would be closed in 10 years.

With the new pharmacy sales and a 10% real growth in sales after the renovation, the projects incremental IRR (Internal Rate of Return) is 8.3% with an incremental $169,267 NPV (Net Present Value). This renovation will enable the store to remain open and continue to serve Rimbey for the next 20 years.

The approved project encompasses:
• New refrigeration throughout the entire store,
• Millwork, lighting, and flooring modifications,
• And the addition of Pharmacy to the food store.

The project was original scheduled to start in May however, due to COVID 19 we were forced to push this date back until June 2020.  We will remain open during renovations and we thank you for your patience while we update your store.