Three Aboriginal investment corporations are happy with their partnership that purchased Arctic Beverages in Prince Albert.
Athabasca Basin Development, Prince Albert Development Corporation and Paskwayak Business Development all partnered together to purchase the beverage company in May.
Athabasca CEO Geoff Gay says this deal helps build economic development for the corporations.
“It is a good long-term business that will be around for decades to come,” said Gay. “It is a good business and it’s one the community understands because a lot of the work takes place in areas that the communities own.”
The ABD CEO also commented how the deal only took 10 days to complete, which is a testament to the organization of all investment companies involved.
Prince Albert Grand Council Grand Chief Ron Michel, says investments like this help develop economic sustainability for First Nations people.
“We have to start taking care of ourselves and one of the ways to do that is through an economic base,” said Chief Michel. “Although we have treaties we still have the importance of our young people and we have to build a strong human resource.”
Chief Michel’s sentiment was echoed by everyone in attendance representing the three companies.
The official purchase of Arctic Beverages was in May with the official announcement Friday afternoon.