It’s almost a dive into history. First Nations members have entered into a partnership with “Canada’s oldest family-owned hardware store” to acquire a 51% stake in a BMR branch in La Tuk.
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Following an agreement with Pierre Naud, Atikamekw Council of Wemotaci (CAW) has invested 1.8 million in a new entity called SEC Pierre Naud / Mokotakan.
Adam Jordan, the council’s interim CEO, notes, “Wemotassi is really the first to invest outside of his community.” We are a community that wants to be innovative and we want to get out of poverty. .
Located 115 kilometers northwest of La Tuque, Wemotasi has about 2,050 registered members, of whom 1,400 live in its territory.
The partnership is part of an economic recovery plan launched by CAW two years ago.
“Part of the plan was to get businesses out of the community,” explained Adam Jordan.
The recent shortage of construction materials, which has “often cut off our legs for certain projects”, has prompted the council to take an interest in the sector.
“We started looking for our own hardware store in Vemotasi, but the market was not big enough. A
The council considered an opening in La Tuque, but a market survey found that the city could not support the second-largest hardware store. He therefore first opted for a partnership.
The council began negotiations a year ago with company Pierre Now, which was already supplying materials to the community.
With over 130 years of existence, Pierre Naud prides itself on being Canada’s oldest family hardware store. Led by Mark-Andre and Philip Label, Mr. Nowd’s grandchildren, the company has six BMR branches and a door and window factory located in Desbiens.
“We’ve been rubbing shoulders for years,” said Adam Jordan. The label brothers understood the situation of Vemotasi, they understood our point of view. They are very acceptable, and the discussion has been very good. A
The La Tuk Hardware Store has 25 employees. Council Wemotaci plans to add a service point.
“We are a small community, and having the skills of a hardware store is quite complex,” the general manager added. Having label brothers with us is a perfect match for both them and us. Pierre Noud will manage the branch in La Tuque, but we are not the only investors. We want to develop Pierre Naude’s business in La Tuque. We have the resources, projects and contacts of the indigenous community to increase the revenue of this entity. A
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