MEC beneath Canadian possession 5 years after US control
Retailer Mountain Equipment Company (MEC), BC-based brand, which specializes in external devices, is back under Canadian ownership.
The retailer was sold to the US-based Kingswood Capital Management after facing financial difficulties in 2020, which was disintegrated as a consumer-owned cooperative, which was which was Described as “betrayal” By some members, thousands of people A campaign to block Sales. Many employees also leftSaying that it was no longer felt like a single company under private owners.
The latest ownership group of the company described as “a group of Canadian investors” in a news release, which has a long -term vision for “MEC’s objectives deep faith and business, led by Tim Gu, which also has canadian brands toy and roots.
Apart from this, MEC member Chris Spear on the board has been in the form of the main merchandising officer. He says that bringing back the brand under local ownership seems to be particularly important at a time when consumers are trying to avoid American products amidst the ongoing trade war and the economic threats being faced by the Canadian people from their southern neighbor.
In an interview with CBC News, he said, “This is a deep moment, you know, where Canadians are more aware of their identity and their sovereignty than ever.”
“And so it is able to declare that we are becoming Canadians at the moment, it seems important and relevant, you know, of course for me and all our members and employees.”
MEC, earlier known as Mountain Equipment Co-Op, was founded in 1971 by a group of mountain climbers in Vancouver, looking for a source of quality gear and distributed it to the city. Members joined with a nominal fee and part of the enterprise owned, and helped run the direction of business.
It eventually increased to over five million members with about two dozen stores across the country, making it the largest consumer co-op in Canada.
