Canadian Tire buys up Party City Canada for $174.4 million

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Canadian Tire has announced that it has reached a deal to purchase Party City's Canadian operations for $174.4 million and will make Party City products available in its stores.

Last Updated Thursday, August 8, 2019 10:59AM EDT

After buying up the Canadian subsidiary of the troubled party supply company, Canadian Tire will soon beginning selling Party City’s “unique product assortments”and in its existing 500 retail stores across the country, as part of a ten-year wholesale agreement. The Toronto-based company is hoping the purchase will help build its own connection with millennial customers. Canadian Tire also runs several retail banners including SportChek, Mark's and Helly Hansen.

MacDonald added "we believe the Party City-Canadian Tire partnership will drive more trips, improve our offers in micro seasons, strengthen our connection with millennials and Canadian families and expand the appeal of Triangle Rewards."

 

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