Many were disappointed when it was announced that the Mountain Equipment Company (MEC) was no longer Canadian.
Thanks to recent developments, it will once again be a Canadian company.
MEC has announced that a group of private Canadian investors “with deep industry experience and a vision of reshoring some manufacturing to Canada” have acquired the company.
In 2020, the company, which operated as a co-op, was acquired by American Kingswood Capital Management, which turned it into a private retailer.
“The new investor group is led by Tim Gu, who brings a deep background in Canadian retail, manufacturing, and investment,” MEC said in a press release.
Gu, the chairman of the Unisync Corp, says the company represents the “best of the Canadian spirit.”
“As a lifelong believer in Canadian manufacturing and innovation, I’m proud to join MEC’s
journey,” Gu said.
Gu said he wants to strengthen the company’s foundation, expand its reach, and ensure it remains an “essential part” of Canada’s outdoor culture.
Joining Gu are the company’s CEO, Peter Hlynsky, and chief merchandising officer, Chris Speyer, who have been with the company as longtime members.
“There has never been a better time to celebrate being Canadian,” Hlynsky said, adding that today marks the beginning of the next chapter for the company.
“We will continue to evolve and innovate in order to stay relevant to the next generation of outdoor enthusiasts, and we will remain true to what sets MEC apart: expert staff who live and breathe the outdoors, stores that are anchors for outdoor communities and an unwavering commitment to providing the best assortment of outdoor gear found anywhere,” he added.
The acquisition comes as Canadians seek more local products and steer away from American ones due to ongoing political tensions between the two nations. We also recently learned that the Hudson’s Bay Company brand will be under Canadian ownership.