Good Tern Co-op purchases former Hole in the Wall Bagel shop, property

Posted:  Tuesday, May 15, 2018 - 8:45am
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ROCKLAND — Good Tern Natural Foods Co-op at 750 Main Street, Rockland, has purchased an adjacent property to accommodate the current sales growth and to facilitate future growth.

Following acquisition by Good Tern Co-op, the Hole in the Wall Bagel Shop, at 754 Main Street, Rockland, will continue its outstanding New York style bagels with a newly increased bakery, breakfast and lunch offerings including gluten free, organic and gourmet choices in both locations.

Parking lots between the two properties will be merged as the first visible change to ease the traffic pressures experienced by co-op customers after fourteen years of increased business activity at its grocery store. Several new staff positions will be created with the merger of operations and increased food production along with the emphasis on high quality service and authentic bagels. Customers will also be able to use debit and credit cards at the Bagel Shop for the first time.

The Co-op is community-owned and open to everyone with the goal of emphasizing health and sustainability to the general public and its member-owners. In a public letter, Chelsea Averitt, Co-op Board President, discussed long-term plans to expand its physical space with additional square footage in many departments. She explained, "An expansion will help us serve everyone by providing lower prices and a wider product selection. We will be able to provide a larger market for local farmers, fishermen, and producers. We will be able to create greater opportunities for staff, more jobs, and a better place to work. And we will be able to be more inclusive and serve the entire community more effectively."

Chelsea discussed how the opportunity for arose at the right time with strong support for natural products in the Mid-Coast region and the Rockland area.

This development will be the Co-op's second major expansion since moving to its 750 Main Street location in 2003. Founded in 1980, the Co-op has long sought better access to its retail store, just off the downtown, for the ever increasing number of customers. In recent years, the Co-op has seen increased demand, especially for its local produce, meats, wine, beer, and prepared deli foods. The Co-op is also planning to add educational offerings and community events with the increased space.

The acquisition and merger papers were signed on Tuesday, May 15, with the purchase facilitated by reserves from retained corporate earnings and financing from the Cooperative Fund of New England.