Things happened rather quickly and now Neyaskweyak Group of Companies Inc. (NGCI) has officially bought its first business not located in Maskwacis.
That said, the Bear Paw Trading Post is just a few steps from Ermineskin First Nation land, but the purchase marks a step forward in the business growth plan of NGCI and its CEO and president Sam Minde.
“This is our first real acquisition and the experience was just fantastic,” explained Minde, as NGCI hosted a grand opening at the store along Highway 2A on Aug. 10.
“Negotiations went as well as could be expected and the professional advice along with the support we received from the federal and provincial governments to conduct our due diligence was excellent. And, the whole transition went as smooth as it could have been.”
The trading post has been a staple of First Nations products and various items needed by many artisans, something that won’t be changing as a result of the new ownership.
For NGCI, the purchase of this business for them has Minde and the board of directors intrigued with where the group can go from here.
“It’s exciting for us and an opportunity to continue the financial momentum for our community of Maskwacis,” Minde stated.
“Overall, it shows we can tackle and carry on-going businesses and help stop the economic leakage from our community while also adding more stable jobs.”
Minde added that NGCI is looking for more opportunities to acquire business interests in the region.
“Ultimately, it’s going to be about adding jobs for our First Nations, Maskwacis residents and continue to keep dollars closer to home because it’s also about providing people here with a livelihood.”