SAIL's New Compass: Female Executives Acquire Canadian Outdoor Retailer

LAVAL, QC – March 31, 2026 – In a move that signals a new era for one of Canada's major outdoor retailers, SAIL Outdoors Inc. has been acquired by three members of its own leadership team. The management-led buyout places the company firmly in the hands of President and CEO Isabelle Lemay, CFO Stefania Cella, and VP of Marketing Catherine Venne, creating a powerful example of female business succession in the Canadian corporate landscape.

The transaction, announced today, ensures the Quebec-based company remains Canadian-owned while continuing its strategic vision under the guidance of executives who have been integral to its recent operations. It marks a significant turnaround and a moment of profound renewal for a brand that navigated financial restructuring just six years ago.

A Landmark for Female Leadership

This acquisition is being hailed as a significant milestone, not just for SAIL, but for Canadian business. The transfer of a company of this scale to an all-female executive team through a management buyout is a relatively rare occurrence, setting a new precedent in the retail sector.

"As women entrepreneurs, we are very proud to continue SAIL's story here in Canada," said Isabelle Lemay, who took the helm as President and CEO in late 2024. "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 deal received crucial backing from the Fonds de solidarité FTQ, a long-standing financial partner of SAIL since 2005. The investment fund's support was instrumental in facilitating the transfer and underscores a strategic commitment to fostering local ownership and leadership diversity.

"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," stated Louis-Joseph Cliche, Vice President at the Fonds. "This transfer clearly demonstrates the role that business succession -- particularly female-led -- plays in Quebec's economic vitality. We believe in the expertise, boldness and determination of its leadership team to drive the company's long-term growth."

From Internal Succession to Ambitious Expansion

The transition was initiated by the company's principal founding shareholders, Dale Tschritter and Daniel Desmarais, who are preparing for retirement. Rather than selling to an outside party, they chose to entrust the company's future to the leadership team already in place, retaining a minority stake alongside the FTQ.

"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," Tschritter and Desmarais said in a joint statement, expressing their confidence in the new owners.

This new ownership is not resting on its laurels. The leadership team has unveiled an ambitious five-year plan that includes the opening of five new stores, which will bolster SAIL's presence across its core markets of Quebec and Ontario. The company currently operates 12 stores—eight in Quebec and four in Ontario—and employs over 1,000 people.

Beyond brick-and-mortar expansion, the strategy involves a comprehensive overhaul of SAIL's e-commerce platform to create a more seamless and inspiring online shopping experience. The company also plans to evolve its in-store concepts, potentially adjusting store sizes and layouts, and will expand its 'reSAIL' resale program, which was launched online in late 2023, into its physical locations.

Navigating a Booming Outdoor Market

The timing of the acquisition is particularly opportune. The outdoor recreation sector in Canada has experienced a significant surge in popularity, a trend accelerated by the pandemic as more Canadians sought local travel and nature-based activities. This cultural shift has created a robust and growing market for outdoor equipment and apparel.

According to Statistics Canada, nearly 78% of Canadian households regularly engage in outdoor pursuits like hiking, camping, and fishing. This widespread participation fuels a vibrant outdoor economy that, according to a report from Protect Our Winters Canada, generates over $100 billion in economic impact and supports more than one million jobs nationwide.

In this dynamic and competitive market—which includes giants like Bass Pro Shops, MEC, and Canadian Tire—SAIL has carved out a distinct middle-market position. The new leadership plans to enhance this by expanding its product offerings, balancing major national brands with its own private labels, SAIL and BOREALIS. There will also be a heightened focus on featuring Canadian-made and eco-responsible products, catering to a growing consumer demand for sustainability and local sourcing.

A Voyage of Recovery and Renewal

The triumphant acquisition stands in stark contrast to the challenges SAIL faced in 2020 when it sought creditor protection at the height of the pandemic's disruption. The company's successful emergence from that period and its subsequent growth trajectory are a testament to its resilience and the strategic leadership of its executive team.

Stefania Cella, the new co-owner and long-time CFO who has been with the company since 1995, played a critical role in navigating the company through those turbulent financial waters. Her deep institutional knowledge, combined with the retail acumen of CEO Isabelle Lemay and the brand-building expertise of Marketing VP Catherine Venne, forms the foundation of the new ownership structure.

This buyout is more than a financial transaction; it represents the culmination of a remarkable recovery and the beginning of a new chapter driven by the very leaders who proved their mettle during the company's most trying times. By securing its future as a Canadian-owned, female-led enterprise, SAIL is charting a bold new course, ready to equip the next generation of adventurers across the country.