Kingswood Capital aquires MEC

 After unanimous approval by the board of directors, Mountain Equipment Co-op is to be acquired by Kingswood Capital Management, a Los-Angeles based investment firm. After years of financial hardship, the Vancouver-based company made the move in order to "ensure a stable future for the business.



 The acquisition includes MECs assets including the majority of retail stores, and while details have not been released, MEC chair Judie Richardson said that she believes Kingsweeod was the bidder most likely to preserve the highest employment levels and number of stores. More information about the acquisition can be found here.