502 W. Washington St. Marquette, MI


The Marquette Food Co-op is not currently offering preferred shares.


In 2013 members of the MFC invested nearly $400,000.00 through the purchase of preferred shares to help fund the expansion of our store. This next offering is intended for additional member investment in the now completed expansion. All proceeds from the sale of preferred shares in this offering will be applied directly to debt incurred to build the new store.  This share offering is open to members of the MFC, including those members who purchased shares in the first offering. This share offering is structured the same way as the first offering- except that new state rules limit a maximum purchase to ten shares.

Par Value:  $1,000 par value per share

Minimum/Maximum Investment:  1 share / $1,000 Maximum: 10 shares/ $10,000

Number of Shares Authorized:  730 ($730,000 total offering amount)

Investor requirements:  must be Michigan residents and paid in full members/owners of Marquette Food Cooperative


  • Cumulative – estimated to be paid beginning five (5) years after issuance
  • Rate: 4%
  • The owner may elect to have dividend income paid to a third party; however, dividends must be reported on a Form 1099-DIV as income paid to the owner of record.


Investors will have a put option, exercisable after five (5) years:

  • Exercise of a put option and the corresponding redemption of preferred shares would be deferred if the Co-op does not have adequate cash on hand to redeem the shares without undue interference with business operations.
  • Exercise of a put option and the corresponding redemption of preferred shares would be restricted if doing so would result in a violation of loan covenants with the Coop’s secured creditors.
  • Exercise of put options would be redeemed in the order received.

Limited Ability to Transfer:  Owner’s preferred shares are only transferable to persons that meet the investor requirements:  must be Michigan residents and paid in full members/owners of the Marquette Food Cooperative.

Again, all proceeds from the sale of shares will be used to pay down long term debt. Currently we are paying 7.5% interest on $730,000.00 of debt. It makes good sense for us to pay a 4% dividend to members rather than expensive interest to lenders. Exchanging debt for equity on our balance sheet in this way creates a win, win, win situation. Our lenders get paid back, members earn a dividend on their investment, and our balance sheet improves making the MFC a stronger company.

The MFC is recovering from the cost of expansion faster than anticipated. Continued member investment supports the cooperative business model, keeps more money right here at home, and ensures that the MFC remains in a strong position to continue to serve you.

Here’s how you invest:  Call or email General Manager, Matt Gougeon, and request a copy of the Marquette Food Co-op Disclosure Document & Business Plan. You may also pick these items up from the Customer Service Desk in the store. The Disclosure provides you information about the MFC, post expansion, and describes the company, its history and value, and the uses of the funds raised through the sale of preferred shares. The business plan takes a look at the MFC currently and where it’s headed.

After determining your interest in investing, call or email General Manager Matt Gougeon at 906-225-0671, ext. 710; gm@marquettefood.coop to set up an appointment to purchase your Series A Preferred Shares of the Marquette Food Co-op.

At that appointment please bring your driver’s license as proof of residency. Please understand that preferred shares may only be purchased by paid in full members of the MFC who are residents of the State of Michigan. Further, shares may only be held by the person who is the primary name on your member equity application– not by a spouse or roommate.

Shares may only be purchased with a personal or cashier’s check. Cash and credit or debit cards WILL NOT be accepted. Make your checks payable to Range Bank. All funds will be held in escrow at Range Bank.

Prefered Share Poster 1