Cost U Less has a new owner

A Virgin Islands version of the states’ Costco chain is under new management.  Lots of locals, as well as visitors on their way to the island, use Cost U Less as a one-stop to stock up on all sorts of items, from DVD players to lettuce, to wine and even outdoor furniture – at very competitive prices.  The store is about a 15 minute drive from the Red Hook ferry dock.

The North West Co. said its purchased Cost-U-Less Inc. for $52.2 million.  The Manitoba-based company operates 220 retail stores in Canada, Alaska, the South Pacific and the Caribbean.   North West traces its history back 338 years and is publicly traded.  Its stock (North West Fund, NWTUF.PK ) has gained 50% this year.

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