Mountain Equipment Co-op to be acquired by Kingswood Capital through CCAA proceeding

Mountain Equipment Co-op says its board of directors has unanimously approved a deal in which a Los Angeles-based private investment firm will acquire MEC's assets, including the majority of its retail stores. Vancouver-based MEC says the transition from a co-operative structure to a subsidiary of Kingswood Capital Management is needed to ensure a stable future for the business. The retailer said it has been granted court protection under the Companies' Creditors Arrangement Act (CCAA), allowing