Meridian announces closing of retail store chain acquisition

(Calgary, Alberta) Meridian Canada today announced the closing of an acquisition of a chain of retail stores by a Meridian client based in Calgary.

No terms of the deal were disclosed although Meridian advised and assisted the acquiring company. Meridian assisted in negotiation of the Letter of Intent and arranged the debt financing with two Canadian based financial institutions.

“Our involvement in this acquisition began last fall when the original financing did not come through for our client,” explained Keith Turner, President and CEO of Meridian Canada. “It was a difficult financing, partially because the original deal was contemplated during the economic meltdown of late 2008/2009.”

This was the 30th closing in Meridian’s four year history.