Canadian outdoor retailer Sail announced that it has been acquired by three members of its leadership team: Isabelle Lemay, president and chief executive officer; Stefania Cella, vice president and chief financial officer; and Catherine Venne, vice president of marketing.

The succession plan was initiated by previous owners Dale Tschritter and Daniel Desmarais, who expanded Sail from a single surplus store to 12 locations before preparing for retirement.

“As women entrepreneurs, we are very proud to continue Sail’s story here in Canada. 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,” said Lemay.

The three executives are reported to “have an in-depth knowledge of both the organization and the retail sector, which led the group’s two principal founding shareholders to invite them to take over the company as part of this transaction,” said the company in a media announcement.

“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 Tschritter and Desmarais.

Le Fonds de Solidarité FTQ, which has held a stake in Sail since 2005, remains a major shareholder and supported the transaction.

“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. 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,” said Louis-Joseph Cliche, vice president of Private Equity and Impact Investing, Agri-food, Consumer Goods and Health, Fonds de solidarité FTQ.

Sail, based in Quebec, plans to open five new stores over the next five years, strengthening its presence in Quebec and Ontario.

Image courtesy Sail