Two weeks ago, we issued an Action Alert about BC’s decision to make major child care capital funding available to private companies. We predicted that this change in public policy could make BC attractive to multinational large child care chains.
Since that time – our worst fears have been confirmed. The Coalition of Child Care Advocates of BC has learned that a foreign-based corporation is trying to take over community-based BC child care providers.
At a Media Conference on Friday, Oct. 19 we released information showing that 123-Global is offering to buy private child care operations across the province, and proposing a short, three week, timeline to complete a deal.
The offers come from Adroit Investments LLC, a firm which lists 123-Global on all its correspondence. 123-Global is an investment firm that is described as a “growth engine” for and partner of A.B.C. Learning Centres, an Australian-based multinational child care corporation with corporate child care operations in the United States, Britain, Japan and China.
We have posted correspondence and documents from Adroit Investments about the purchase process on our website. The Centre Information that operators must complete to get the process started paints a clear and alarming picture. While potential sellers are asked about their building, their licensed capacity, their current fees and wait lists, there is not one question about the community served, the staff who work in the program or about children with extra support needs.
That’s because foreign warehouse style child care operations care about property and profits – not about people. Their primary objective is to generate profits for their international shareholders.
We cannot help but wonder if there is a connection between this unprecedented buy out offer and the government’s decision to provide capital funds to for-profit child care in BC.
The Coalition of Child Care Advocates of BC strongly believes that taxpayers should not subsidize shareholder profits. We believe that multinational companies should not get government handouts while they buy out community-based child care. Selling off our child care to foreign ownership is not the solution to BC’s child care crisis.
The solution is publicly funded, high quality community owned and controlled child care – not gigantic child care warehouse operations.
That is why the Coalition of Child Care Advocates of BC calls on the BC government to
- assure families that BC child care will meet community not shareholder needs
- assure taxpayers that public funds will go to BC children not profits.
Make your voices heard. Say NO to foreign control of community-based child care in BC.
Tell the government that BC child care is NOT FOR SALE!
Join us on Friday, Nov. 16, 7pm at SFU Harbour Centre in Vancouver, to speak out against the corporate child care take over and speak up for real solutions.
Stay tuned to this website for information and actions.