Two companies brought together by their drive for being locally strong, while being locally owned.
A Co-op is a form of business that is designed to provide economic benefits to member owners as opposed to providing income to investors.
Co-ops are owned and controlled by the people who use their services. The Co-op difference: Member owner control, focus on member owner needs, profits shared with member owners.
Northern Lakes Cooperative was formed in 1932 by a group of sixty farmers that was fed up with paying high fuel prices to large petroleum monopolies. Through the 1930’s the cooperative added fuel outlets in surrounding communities, as well as groceries, farm supplies, and a grain elevator.
By the late 1950s, the Northern Lakes Cooperative complex consisted of bulk fuels, grocery, feed mill, hardware, clothing, a gas station and garage, a lunch counter and a credit union. There were 1,700 stockholders and 35 employees.
Today True Value Company is one of the world’s leading hardlines wholesalers with a globally recognized brand providing its customers in over 60 countries an expansive product set with market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like local e-commerce, store remodel support and True Value University all within a flexible model which requires no membership.
Committed to long-term sustained growth and success, True Value serves more than 4,500 stores worldwide with retail sales in their communities, totaling about $10 billion, with 13 regional distribution centers and approximately 2,500 True Value Associates.
For more history of Northern Lakes Cooperative, click here. For more history of True Value, click here.
All of us at The Northern Lakes True Value Hardware thank you for your continued support.