Toronto, ON. As of January 25, Arctic Beverages LP has entered into a share purchase agreement with Oscardo Inc, a leading souvenir and gift supplier based in Toronto whose products feature artwork by Indigenous artists. As part of the transition, Oscardo Inc. will now be Oscardo LP.
“This is definitely a new area for us in terms of products, but Oscardo is a great fit for Arctic Beverages,” says Sean Post, CEO of Arctic Beverages. “Oscardo’s products are high quality items with designs that feature amazing Indigenous artwork. As a distributor with a significant territory across the country, we are well positioned to help grow Oscardo from its already impressive reach across Canada.”
Arctic Beverages services over 2500 customers across 45% of Canada, providing a one-stop shop for grocery, convenience, and wholesale retailers for a wide variety of premium consumer packaged goods. The company is entirely owned by Indigenous-owned entities representing ownership by 13 First Nations and four remote northern communities.
“When I started thinking about retirement, I wanted to make sure the company we spent so long building would always be in good hands,” says Oscar Lulka, President and former owner of Oscardo. “It was also important to me to look for Indigenous owners in the spirit of reconciliation and to help carry on the strong relationships Oscardo has established with 23 Indigenous artists and our valued clients. I am very excited to have found Arctic Beverages. They are a solid Indigenous-owned company with a long history and a strong balance sheet, and they are highly experienced and successful in distributing a wide range of products. I am confident that this new ownership will strengthen the company and ensure its legacy continues and provides benefits to Indigenous communities."
Oscardo employs 10 people at its Toronto location and has 8 sales reps across the country. Lulka will stay on with the company during the transition. “Oscar has agreed to stay on and continue to operate the business as usual. We will eventually transition to a new CEO so that Oscar can enjoy retirement,” says Post. “The focus for all of us is taking care of employees, customers and artists and continuing the spirit and legacy that has been established that grew the company to where it is today.”
For more information, please contact:
Oscar Lulka | President Oscardo
Ph: 416.785.8619 ext. 235