June 7, 2016
Restaurant Group Urges Other Businesses to Join Forces to Launch This Member-Owned Cooperative
Bedford, NH – Tom Boucher, owner and CEO of Great NH Restaurants headquartered in Bedford, NH has announced their support and investment of $25,000 to help meet the Manchester Area Food Co-op capital campaign goal. Once the necessary start-up capital is secured, the Food Co-op can sign the long term lease at 209 Route 101 for the space currently home to Harvest Market. The location is a convenient and familiar spot that will easily serve the Bedford and greater Manchester area with local, organic, fresh, fair-trade, non-GMO, and natural products. The mission of the co-op is to support local farms and producers and strengthen the local economy. “We are so happy that Great NH Restaurants can spearhead this effort and hope our commitment will encourage other area businesses to participate,” says Boucher. Boucher made the commitment to invest as a local resident as well, stating “it just make sense for neighbors to work together on this… it benefits all of us!” It is estimated that the co-op will purchase over $1.4 million in local produce and goods during the first year of operations.
Patrick Neily, General Manager of the Manchester Food Area Co-op is grateful that Great NH Restaurants stepped up as the first business investor in the Food Co-op by pledging $25,000 in Preferred Shares, to begin once the co-op reaches the $100,000 mark. Neily states, “We are thrilled for this investment and it has already sparked other local businesses to follow suit! Such support by the local business community shows one of the principles of our cooperative come to life – keeping our money local, recirculating dollars where we eat, work and play, and connecting people together toward common good.”
The Food Co-op is currently owned by over 1350 families and businesses, and anyone can become a Member-Owner for a one-time investment of $100 per family. All Member-Owners now have the opportunity to further invest in the Co-op by purchasing Preferred Shares, for which dividend returns range from 3-5% (based on the amount of shares purchased). The store will be operated democratically by its voting members and is open to everyone, providing a much needed choice for those seeking out local foods. For more information about the Manchester Food Co-op visit www.ManchesterFood.coop. Great NH Restaurants is the parent company of the five T-BONES Great American Eatery locations: Bedford, Salem, Hudson, Derry and Laconia, two Cactus Jack’s Great West Grill locations: Laconia and Manchester, the Copper Door Restaurant in Bedford, and T-BONES Meats, Sweets and Catering in Manchester. For more information, visit www.greatnhrestaurants.com.