Lowe's Canada To Acquire Leases Of 13 Former Target Stores

TORONTO, May 11, 2015 /CNW/ -- Lowe's Canada announced today it has reached agreement to acquire the leases of 13 former Target Canada locations and to purchase Target's Milton, Ontario distribution centre for a total purchase price of approximately C$151 million.  This acquisition came as part of a real estate auction following Target's decision to cease operations in Canada.  

 

"Since opening stores in Canada in 2007, we have developed a successful model for providing the Canadian customer with outstanding service and quality products for the home," said Sylvain Prud'homme, president of Lowe's Canada.  "These additional locations will accelerate our expansion across the country, enhancing our presence in Western Canada and strengthening our base in Ontario. We are excited to bring Lowe's to more customers in more communities in Canada, further demonstrating our commitment to this important market."