Meteor Extreme Sports

Company Description

The man behind the creation of Meteor extreme Sports Company was a Montreal businessman named Roni, who first made his mark in the 1950s with the launch of a commercial real estate company, BelcMeteor Extreme Sportst Inc. In the 1970s, he took advantage of a tax-loss credit to diversify by acquiring a small Montreal knitting factory that produced athletic uniforms. With this toehold in the sporting goods industry, Zunenshine took a major step in 1983 when he purchased the hockey equipment business of CCM Inc. By acquiring CCM, an icon brand in North America, Zunenshine instantly made himself a player in the hockey equipment industry.

The history of CCM dates back to 1899 and the launch of Canada Cycle & Motor Company Limited in Weston, Ontario, Canada. CCM grew out of the bicycle industry, the result of five Canadian manufacturers—Massy-Harris, H.A. Lozier, Welland Vale, Goold, and Gendron—banding together to fend off U.S. competition in the form of the American Bicycle Company, which was looking to invade the Canadian market. As had been the case in the United States, the market for bicycles quickly became saturated, so that within a few years CCM looked for other sources of income.