Mountain Equipment Company being sold again?

CityNews Vancouver is reporting that Mountain Equipment Company (MEC), the Vancouver-based mountaineering, recreation and apparel retailer, is in the process of being sold.

According to an email from a wholesale association distributed to MEC suppliers late last year, MEC’s shares will be sold “so legal entity would remain the same but under new ownership.” The new buyer is yet to be disclosed, the association says.

Strategy reached out to the MEC media team, which would not provide a comment on the report.

MEC, which operates approximately 20 retail locations, was acquired by L.A.-based private investment firm, Kingswood Capital Management, in 2020. The move pulled the company out of bankruptcy protection and ended its 50-year run as one of the country’s most celebrated co-ops.

Putnam buys Northern Reflections

Toys “R” Us Canada owner Putnam Investments is acquiring women’s fashion brand Northern Reflections Limited.

Northern Reflections, which is celebrating 40 years in business, has a footprint of 134 stores spanning nine provinces.

The acquisition has been completed and financial terms of the deal were not disclosed.

Employing more than 860 people across the country, the company will be led by current Northern Reflections president Maryann Darling.

“Since 1985, Northern Reflections has been a cornerstone of Canadian retail, offering our customers quality, comfort and timeless style,” Darling says. “Our business will only get better. I’m excited about our new ownership and we look forward to continuing to serve our loyal customers in all our store locations and online.”