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Beloved Canadian Outdoor Co-Op MEC Announces Sale to Private Equity Firm

Beloved Canadian Outdoor Co-Op MEC Announces Sale to Private Equity Firm

Inventory had been piling up and sales weren’t close to relieving the burden, with online retail kneecapping the Canadian outdoor giant. Their board revealed this week it unanimously approved a sale to Los Angeles-based Kingswood Capital Management. ADVERTISEMENTThe acquisition will allow MEC to continue using the name and the brand, Richardson has explained. 5 million people have signed on as MEC members, and paid $5 for one share in the company. The past decade, however, saw blow after blow begin to hobble the financial foundation of the brand.

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