One of Canada’s most recognizable store names is making a big business move.
Canadian Tire Corp. has entered into an agreement to purchase all 65 Party City stores in Canada.
The $174-million deal will see Canadian Tire expand Party City’s standalone store network.
Party City’s products will also be made available nationally across 500 Canadian Tire stores and online.
The corporation said it is well-positioned to more than double Party City Canada’s business by 2021.
Party City has four stores in the Maritimes, located in Saint John, Moncton, Halifax and Dartmouth.
The acquisition is expected to close in the third quarter of this year.
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