2019-08-30
Canadian Tire Corp. is diversifying its store offerings with the purchase of 65 Party City stores across Canada for $174.4 million cash, a move the national retailer expects to strengthen its connection with millennial customers.
The Toronto-based company, which operates multiple retail banners including Canadian Tire, SportChek, Mark's and Helly Hansen, said the acquisition of Party City's Canadian stores gives it a high-margin retail category.
It plans to add stand-alone Party City stores as well as sell its products across 500 Canadian Tire retail stores and online at canadiantire.ca
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