Canadian Tire buys all Party City stores in Canada for $175M

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

To read the full article click here.