One of the topics that gets talked about in business circles is how we attract and retain head offices. For a province like Saskatchewan, this can be challenging as we have a long list of strong players. However, we’re in a small market and often large national or international players will buy up our best and brightest firms.
One recent example was the takeover of Saskatoon-based CanniMed, a leader in the medicinal marijuana space, for more than $1 billion. But there are a few forces working on our side of this equation to create or hold local head offices. Lately, one of the key players in this area has been the First Nations investment arms and our growing venture capital community.
Saskatoon’s PIC Group, owned by the Yuel family, is one of the most prominent in this area. They announced a new company earlier this week called CanGas Propane, which assembled 13 propane distribution operations across the West. These were not included in another deal, so PIC grabbed them and retained all the employees and the customer base.