Pelican Intl Inc. has completed a strategic acquisition of key assets from Pelican International Inc. and Confluence Outdoor Inc., positioning itself for growth and innovation in the paddlesports industry.
Target Company Information
Pelican Intl Inc., a newly established entity, has successfully acquired the assets, excluding GSI Outdoors, from Pelican International Inc. and Confluence Outdoor Inc. This acquisition was conducted under a sales and investment solicitation process (SISP) approved by the courts, in accordance with the Companies' Creditors Arrangement Act (CCAA) in Canada and Chapter 15 in the United States. Led by Danick Lavoie, the former President and CEO of Pelican, this acquisition involved collaboration with former executives Frédéric Guay and Guy Prenevost.
The acquisition marks a critical milestone for Pelican Intl and the paddlesports industry, ensuring the lasting presence and evolution of a portfolio of renowned brands. With a workforce of over 400 dedicated and passionate employees, the company is poised for future growth and innovation.
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Industry Overview
The paddlesports industry has shown robust growth in recent years, driven by increasing consumer interest in outdoor activities and wellness. In Canada, the industry
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