Affiliate of Blackstreet Capital Holdings, LLC Acquires Red Apple Stores Inc.
An affiliate of Blackstreet Capital Holdings, LLC (“BCH”) has acquired Red Apple Stores Inc. (“Red Apple” or the “Company”). Operating 142 stores under the “Red Apple” and “The Bargain! Shop” banners, Red Apple is Canada’s favourite small-town general merchandise retailer, offering big brands and big savings to its Customers. BCH is led by Murry Gunty, its Founder and Chief Executive Officer.
“We are honoured to purchase a business that serves such an essential role in communities across Canada,” said Murry Gunty, Chief Executive Officer of BCH. “We are excited to partner with Red Apple management to continue its mission of providing the best value to its Customers through convenient locations, quality products, and super friendly service.”
“Red Apple is at an inflection point in its growth,” said Jack Myers, who led the investment and will serve as a key member of the operations team at Red Apple going forward. “We are excited to help continue the tremendous organic growth and begin opening new stores to serve Canadian small towns and to continue to provide a great place to work.”