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US-owned · Montreal, Quebec (design and operations) / New York, New York (Lee Equity Partners)
Resolved — the earlier conflict was that both sources were partly right. Mackage's parent really is APP Group of Montreal (which also owns Soia & Kyo), but APP Group is itself majority-owned by InterLuxe Holdings, the consumer-brand arm of New York's Lee Equity Partners, following its 2017 investment. Other major shareholders include SK Holdings of Korea and a fund of the Montreal transit pension plans; founders Eran Elfassy and Elisa Dahan retain the largest minority stakes. Design and operations stay in Montreal, but control is American.
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