Canadian outdoor-gear retailer Sail has been acquired by three members of its leadership team in a management-led buyout.

The transaction transfers ownership to Isabelle Lemay, the company’s president and CEO; Stefania Cella, vice-president and CFO; and Catherine Venne, vice-president of marketing. The deal ensures continuity of the company’s vision and growth in Canada while representing a notable example of female-led business succession, said Sail.

“As women entrepreneurs, we are very proud to continue Sail’s story here in Canada,” said Lemay. “We share a common vision: To keep evolving the company while staying true to its mission of supporting outdoor, hunting and fishing enthusiasts in all their activities.

“We aim to position Sail as the go-to partner for outdoor activities in Canada, an even stronger, more relevant and more inspiring destination for the years ahead.”

The acquisition was initiated by the company’s two principal founding shareholders, who cited the leadership team’s deep knowledge of the organization and retail sector as key factors in the transition.

“The complementarity of their expertise, along with the long-term strategic vision of Isabelle, Stefania and Catherine, are key strengths to support the company’s growth in a rapidly evolving market,” said Dale Tschritter and Daniel Desmarais, in a news release.

The deal is backed by the Fonds de solidarité FTQ, a long-time partner since 2005, which highlighted the importance of locally led succession in maintaining Quebec’s economic vitality. According to The Globe and Mail, the Fonds will maintain a large ownership interest in Sail.

“The Fonds de solidarité FTQ is proud to support this succession led by three seasoned executives, which ensures that a flagship retail company rooted in several regions of Quebec remains in local hands,” said Louis-Joseph Cliche, the Fonds’ vice-president of private equity and agri-food, consumer goods and health impact investing.

“This transfer clearly demonstrates the role that business succession, particularly female-led, plays in Quebec’s economic vitality. The Fonds and Sail have been partners since 2005. We believe in the expertise, boldness and determination of its leadership team to drive the company’s long-term growth.”

The transaction comes amid favourable conditions for the outdoor sector, with rising consumer interest in domestic travel and outdoor recreation supporting continued growth, said Sail.

The company plans to build on that momentum with potential expansion, including up to five new stores over the next five years across Quebec and Ontario.

Sail noted that outdoor recreation remains central to Canadian lifestyles, with Statistics Canada reporting that nearly 78% of households regularly participate in activities such as walking, hiking, cycling and camping. The sector generates more than $100 billion in economic impact and supports over one million jobs nationwide.

Laval, Que.-based Sail specializes in outdoor equipment and apparel for hunting, fishing, camping, hiking and boating, operating 12 big-box stores in Quebec and Ontario along with a national e-commerce platform and employing more than 1,000 people. In addition to owning and operating the stores, Sail owns and operates an 80,000-square-foot warehouse.

Photo: Sail