Founded in 1968, the Merchants won the Southern Counties Junior D Hockey League championship the next season, then went on to win the OHA Cup as provincial champions by defeating the Haliburton Huskies of the Central League.

They again made it to the provincial final, but this time lost to the Lakefield Chiefs of the Central Ontario Junior C Hockey League.

In November 2011, the Merchants were sanctioned by the Ontario Hockey Association for the overpayment of a former player during his time with the team.

The OHF overturned the roster freeze and import restrictions saying that it was not within the OHA's constitution to wield those powers.

The playoffs for the 2019-20 season were cancelled due to the COVID-19 pandemic, leading to the team not being able to play a single game.