MEC back under Canadian ownership after 5 years of U.S. management

Andrew Kurjata · CBC News

· Posted: May 17, 2025 11:37 AM EDT | Last Updated: 4 minutes ago

Retailer Mountain Equipment Company (MEC), the B.C-based marque specializing successful outdoor equipment, is backmost nether Canadian ownership.

The retailer had been sold successful 2020 to U.S.-based Kingswood Capital Management aft facing fiscal difficulties, which led to its dissolution arsenic a consumer-owned co-operative, successful what was described arsenic "betrayal" by immoderate members, thousands of whom mounted a run to artifact the sale. Several employees besides quit, saying it nary longer felt similar the aforesaid institution nether backstage owners.

The company's newest ownership radical is described successful a news release arsenic "a radical of Canadian investors" who person a "deep content successful MEC's intent and a semipermanent imaginativeness for the business," led by Tim Gu, who besides has stakes successful Canadian brands Tilley and Roots.

Also connected committee is longtime MEC subordinate Chris Speyer as main merchandising officer. He says bringing the marque backmost nether section ownership feels peculiarly important astatine a clip erstwhile consumers are seeking to debar U.S. products amid the ongoing commercialized warfare and economical threats being faced by Canadians from their confederate neighbour.

"It's a profound moment, you know, wherever Canadians are much alert of their individuality and their sovereignty than ever before," helium said successful an interrogation with CBC News.

"And truthful being capable to denote that we're becoming Canadian owned astatine this clip feels important and relevant, you know, surely to maine and to each of our members and employees."

MEC, formerly known arsenic Mountain Equipment Co-op, was founded successful 1971 successful Vancouver by a radical of upland climbers looking to root prime cogwheel and administer it successful the city. Members joined with a nominal interest and owned portion of the venture, and helped thrust the absorption of the business.

It yet grew to much than 5 cardinal members with astir 2 twelve stores nationwide, making it Canada's largest user co-op.