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MEC is sold to private equity. Cooperative no more.
http://www.myccr.com/phpBB3_PROD/viewtopic.php?f=20&t=48270
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Author:  Dan. [ September 14th, 2020, 6:42 pm ]
Post subject:  MEC is sold to private equity. Cooperative no more.

https://www.cbc.ca/news/business/mec-ac ... -1.5723934

Author:  Wabakimi Guy [ September 14th, 2020, 7:15 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

All that i am going to miss is the annual election of the board of directors. I did my best to be a contrarian. My choices never got elected. The geniuses that got in have taken MEC to this place. :D

Author:  Jfpaddler [ September 14th, 2020, 8:03 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

The globe and mail article said the new firm is keeping 17/22 stores open. According to the MEC website, these stores are “temporarily closed” and have been that way since the initial Covid closures.

Kitchener
Calgary South (new store location)
Edmonton
Laval
Longueuil

Anyone want to hedge bets that these 5 that never reopened are the ones that be permanently closed? If so, this deal has been months in the making, given that other stores reopened in June.

Author:  Splake [ September 15th, 2020, 9:25 am ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

I'm surprised that the board of directors could sell out without taking the deal to the shareholders for approval. Since MEC is a corporation, I believe shareholder approval is required. [Edit - Someone clarified for me that the MEC memberships are non-voting shares. Members get to vote for the board of directors, but only the board of directors have voting privileges for the corporation. Probably a well intentioned structure when MEC was created, but also the root of the challenges that have grown over the years.]

Author:  cheryl [ September 15th, 2020, 10:22 am ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

they should have stuck with their original mandate as a Niche store.

Author:  Odyssey [ September 15th, 2020, 12:20 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

cheryl wrote:
they should have stuck with their original mandate as a Niche store.


I agree.

Author:  vicali [ September 15th, 2020, 4:26 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

Aww.. that's lame.
I bought my membership in 92 in grade 8 so I could buy a sweet red Klettersack;
I still use it every trip as it's our boat bag!

Image

We used to make the 4hr drive to Calgary to visit the store, but getting the catalog with my name on it was the highpoint of my season. Almost 30 years later we still shop there and order a handful of times throughout the year. I didn't mind paying a bit more to support the co-op. I missed the MEC branded stuff but it was still the first place I looked rather than amazon/sail/etc..

Lucky we still have a TrueOutdoors shop in town, and a Valhalla Pure close by as well..

Author:  jbishop2112 [ September 15th, 2020, 6:20 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

I hadn't realized it was a corporation... who owned it then, if members did not? And did it not truly begin as a real coop? If there isn't one already, it would be nice to see some sort of historical treatment of this story down the road some day. In the meantime, I still have a half dozen pieces of gear by which I'll remember it fondly.

Author:  Dave Caldwell [ September 16th, 2020, 9:58 am ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

Get Woke go Broke , I cashed in my membership when they catered to the 1% nutter SJW's and started banning products. Too many other companies to choose from .

I took my $144 co-op cheque and spent it elsewhere .

Author:  MikeD [ September 18th, 2020, 8:22 am ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

MEC in Ottawa on a Saturday ....let me paint a picture for you. SJW's and/or Mommies with their $800 Thule jogging strollers blocking the aisles.

Author:  Dan. [ September 18th, 2020, 12:32 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

MikeD wrote:
MEC in Ottawa on a Saturday ....let me paint a picture for you. SJW's and/or Mommies with their $800 Thule jogging strollers blocking the aisles.


Some of us were SJW Daddies with $800 strollers blocking the aisles. No need to pick on women.

Author:  cheryl [ September 18th, 2020, 1:07 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

Globe and Male Sept 17, 2020. Can't read the artists name, or figure out how to upolad the image.

https://www.theglobeandmail.com/opinion ... #c-image-1

Author:  MikeD [ September 18th, 2020, 1:26 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

Dan. wrote:
MikeD wrote:
MEC in Ottawa on a Saturday ....let me paint a picture for you. SJW's and/or Mommies with their $800 Thule jogging strollers blocking the aisles.


Some of us were SJW Daddies with $800 strollers blocking the aisles. No need to pick on women.


My bad. You are correct. My issue at the time was that the store did not limit the number of wheeled devices in the store, which would have alleviated coming across two or three strollers in an aisle at a time.

Author:  Captaincanadian [ September 18th, 2020, 7:57 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

there is a petition circulating on line for members to attempt to block the sale. The board has approved the sale, but it is not final yet. I signed it two days ago. Unfortunately MEC's new business model their new CEO thought would turn around the company has not been successful at all.

Author:  jbishop2112 [ September 20th, 2020, 9:04 pm ]
Post subject:  Re: MEC is sold to private equity. Cooperative no more.

Right; it's almost like canadian management americanized it (bigger blander better), which didn't work out so well. Now we have real american ownership proposing to un-americanize it and make it work again. Well I can get behind anything.

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