Canadian private equity firm Lynx Equity has acquired Blind Bay Village Grocers, a Blind Bay, British Columbia-based retail destination providing fuel, liquor and groceries. No financial terms were disclosed for the deal, which includes more than 2.5 acres of land on which the 21-year-old store is located. Lynx bought the business from Annette and Colby Woodhead, who will remain with Blind Bay for a transitional period. James Inglis, Doug Nakano and Steve McNair will continue to lead the management team. Last week, Lynx said it acquired U.S. flooring contractor Flooring Solutions Inc.
Lynx Equity Limited is pleased to announce the acquisition of Blind Bay Village Grocers, the community’s premier destination for fuel, liquor and groceries since 1997.
May 7, 2018
Toronto, ON / Blind Bay, BC – Lynx Equity Limited is pleased to announce the acquisition of Blind Bay Village Grocers, the community’s premier destination for fuel, liquor and groceries since 1997. The Company’s 12,700 sq. ft. grocery store is located in the community of Blind Bay, on the southern shore of Shuswap Lake, within the Canadian province of British Columbia. A market leader with three distinct revenue streams; grocery, liquor and an on-site Shell gas bar, Blind Bay proved an immediately attractive acquisition opportunity for Lynx. With its continually expanding product assortment The Company is the retail destination of choice for both residents and seasonal visitors to Blind Bay, allowing it to attract and retain talented staff and continually maintain year-over-year-growth.
“The opportunity to acquire Blind Bay excited our team right away,” commented Lynx Equity’s President, Brad Nathan. “The Company has consistently provided residents and visitors of Blind Bay with a fantastic grocery shopping experience, and we look forward to continuing the legacy that this amazing team has built.”
The acquisition includes the purchase of over 2.5 acres of land on which Blind Bay Village Grocers is located. Sellers Annette and Colby Woodhead will remain with The Company for the summer with Colby remaining for an additional two years, ensuring a smooth transition to the existing management team of James Inglis, Doug Nakano and Steve McNair.
“We were very impressed with the people behind Lynx. They have exhibited admirable business ethics and acumen and this was a major factor in our consideration of competing offers,” commented Colby Woodhead, Blind Bay Village Grocers’ President. “We know they will continue to own and operate our business successfully, continuing on the tradition that is Blind Bay Village Grocers.”
Lynx’s portfolio currently includes British Columbia’s Kelowna-based Winfield Wood and Lath, acquired in 2014, as well as a number of businesses along the West Coast of the United States in Washington State, Portland and California. Lynx continues to pursue acquisition opportunities across North America and Europe.
About Blind Bay Village Grocers
Since 1997, Blind Bay Village Grocer has become the community’s premier destination for fuel, liquor and groceries. Since its inception, it has been The Company’s mission to provide the highest quality products, superior service and exceptional ambiance while actively supporting their community. Blind Bay Village Grocers has the only gas station in Blind Bay and is the only retailer in the area which offers four types of fuel as well as propane. Blind Bay obtained its liquor authorization in 2002 and has since become the largest “Rural Agency Store” (RAS) in British Columbia.
For further information on Blind Bay Village Grocers please visit www.blindbayvillagegrocer.com
About Lynx Equity Limited
With sales in excess of $400M CAD, Lynx Equity Limited is a Toronto-based diversified private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire. Lynx targets acquisitions of companies with EBITDA between $750k and $2M USD and utilizes a buy and hold strategy.
For further information on Lynx Equity, please visit www.lynxequity.com
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