Continental Currency Exchange sold to PACE Savings & Credit Union

1 minute read
14 April 2020

On April 14, 2020, PACE Savings & Credit Union Limited ("PACE") and Scott Penfound announced that PACE had completed the acquisition of all of the outstanding shares of Continental Currency Exchange Canada Ltd. ("CCE") held by Mr. Penfound and his family.  The closing of the transaction completed the ongoing transition of management and ownership of CCE from the Penfound family to PACE, a process which began in 2017. 

PACE is headquartered in Vaughan, Ontario, serving 40,000 members holding over $1 billion in assets through 12 locations. CCE is Canada's largest Canadian owned and operated currency exchange retailer, with 19 locations across Ontario. 

Gowling WLG advised the Penfound family in this transaction with a team that included Ian Palm, David Campbell, Scott Kugler and Haddon Murray.

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