A group of Canadian investors led by textile executive Tim Gu is acquiring Vancouver’s Mountain Equipment Co. (MEC) in a deal MEC announced this afternoon.
No sales price was disclosed.
MEC CEO Peter Hlynsky and chief merchandising officer Chris Speyer are also part of this group, according to an MEC press release. Gu is chairman at Unisync Corp. (TSX: UNI), a Canadian uniform-clothing company, as well as an investor in venerable Canadian brands, such as Tilley and Roots.
This is the second day in a row that Canadian investors have bought a legendary Canadian retail company, or its assets. Yesterday, Canadian Tire said it would pay $30 million for intellectual property belonging to the
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