MEC Returns to Canadian Hands in Bold New Chapter of Outdoor Retail
So here’s something exciting for fans of the great outdoors and lovers of homegrown Canadian brands — Mountain Equipment Company, better known as MEC, has officially been acquired by a Canadian-led investor group after months of speculation and behind-the-scenes negotiations. And yes, it’s a huge deal — not just because of the change in ownership, but because of what this move signals for Canadian manufacturing and the future of MEC.
The acquisition is led by Tim Gu, a well-known name in the Canadian textile and apparel manufacturing industry. Gu is the founder of E.Star International, which has worked with major players like Canada Goose and Walmart, and he’s also the chairman of Unisync, a company specializing in uniforms and workwear. But what makes this particularly noteworthy is that MEC’s own top executives — CEO Peter Hlynsky and chief merchandising officer Chris Speyer — are also part of the investor group. This isn’t just a buyout; it’s a statement of belief in MEC’s legacy and its future.
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What’s truly compelling is that this deal is bringing the brand back into Canadian hands. MEC was previously sold to a U.S. private equity firm, Kingswood Capital, in 2020 after filing for creditor protection during the pandemic — a move that ended nearly five decades as a member-owned co-operative. While Kingswood helped stabilize the business for a while, signs of strain had begun to show again, with lawsuits from suppliers and cash flow issues re-emerging. So, this new chapter feels like a much-needed refresh.
Under Gu’s leadership, there are already plans to reinvest in Canadian manufacturing, especially for MEC’s private-label products — snowsuits, jackets, and gear that Canadians have trusted for decades. Some of this production will begin returning to Canadian soil as early as this summer. It's a nod to growing consumer sentiment around supporting local businesses, especially as tensions with the U.S. and global supply chain issues continue to ripple across retail sectors.
Tim Gu himself called MEC “the best of Canadian spirit — adventure, resilience, and community,” and honestly, it’s hard to disagree. His commitment to quality, innovation, and domestic production is setting the tone for what MEC could become once again — not just a retailer, but a cultural staple for outdoor enthusiasts across the country.
And let’s not forget the community side of MEC. From knowledgeable in-store staff to gear that supports everything from local hikes to Arctic expeditions, MEC has always stood for more than just commerce. This new ownership group seems to understand that — and they’re betting big on bringing it back to its roots while evolving for the next generation.
This isn’t just a business transaction. It’s a homecoming, a reinvestment in Canadian values, and hopefully, the beginning of a strong new era for one of the country's most iconic brands. Here's to seeing more “Made in Canada” tags hanging off our gear in the near future.
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