Deals
Canadian Tire Plays Hockey Defense Against Target
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Canadian Tire Corp. will look for more acquisitions to fortify its position as the country’s largest sporting goods retailer after purchasing Pro Hockey Life Sporting Goods Inc. for C$85 million ($85.7 million).
The purchase of closely held Pro Hockey Life will give Toronto-based Canadian Tire 23 stores across five provinces and annual revenue of about C$95 million, the company said in a statement. The acquisition will be accretive to earnings in the first year, Canadian Tire said.