SASKATOON, SK, Jan. 17, 2023 /CNW/ – Golden Opportunities Fund (“Golden”), is pleased to announce an investment in Mega Retail Consolidation LP. The transaction was completed in syndication with strategic operating partner, Mega Group Inc. (“Mega Group”) through its wholly owned subsidiary Mega Investment & Development Corporation, focused on the proprietary opportunity to roll up retail home goods and furniture stores that are currently operating in the broad Mega Group network.
Established in 1965, Mega Group is a Saskatchewan-based and headquartered retail buying group providing Canadian retailers with business expertise and scaling opportunities. Mega Group facilitates over $2.5 billion in annual retail sales to its over 700-member retailer locations. Mega Group also represents over 400 approved vendors with core buying categories including appliances, bedding, consumer electronics, furniture and floor coverings. With almost six decades of history and growth, Mega Group is one of the largest and most respected buying groups in Canada and has been recognized as a Platinum Member under Canada’s Best Managed Program for the past 12 years.
Built on Mega Group’s established brand reputation of quality and reliability, Mega Retail Consolidation LP will provide succession and exit opportunities for hundreds of independently owned retail locations already utilizing Mega Group’s services ranging from purchasing power, financial reporting, e-commerce and sales support. The combination of Golden’s widely known impact on communities, capital and mergers, and acquisition expertise, paired with Mega Group’s industry expertise, will ensure a seamless consolidation of retail stores into Mega Retail Consolidation LP.
Grant J. Kook, President and CEO of Golden indicates, “We are very excited to be the financial partner of choice for an organization that has been being providing leading edge services to local retailers in communities from coast to coast with everyday goods and products that effect families for the past nearly six decades.”
Chris West, President and CEO of Mega Group quotes, “Our member retailers, similar to businesses across all sectors, have been seeking succession options. Given our deep understanding of their business through the multitude of services that we offer them, it is a natural step in the evolution of their business that Mega, as a trusted partner, can now provide a succession solution with the aid of Golden, our financial partner.”
About Golden Opportunities Fund Inc.
Founded over 20 years ago, Golden is the first and longest-standing Provincial Retail Venture Capital (RVC) Fund in Saskatchewan. Golden makes strategic investments in high-growth sectors of the economy to maximize shareholder value.
SOURCE Golden Opportunities Fund Inc.
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