Walmart Canada Acquires 13 Stores from Target, 4 in Québec

Walmart Canada Acquires 13 Stores from Target, 4 in Québec

Quebec City (Quebec) 9 May 2015 – Following the closing of Target across Canada, Walmart Canada has announced that it will takes some of Target’s stores, including .

The Canadian division of Wal-Mart Stores said yesterday it plans to invest $350 million to purchase and renovate 13 stores and a former Target distribution center, including 4 properties located in Québec.

In the province, the US retail giant will take over the stores in Candiac Mega Mall in the city of the same name, the Terrarium Centre in Pointe-Claire, the Galeries Chagnon Lévis and finally the establishment of the Place Fleur de Lys in Québec City.

Walmart Canada states that this transaction will add 1.6 million square feet of new retail space, and a distribution center of 1.4 million square feet. This is the equivalent of almost 28 NFL football fields.

These new stores will result in the creation of 2400 jobs, while the distribution center will give a job to 1,000 people. Finally, the construction work will create 1,500 jobs.

“Walmart is committed to continued growth in the Canadian market and this agreement allows us to accelerate our plans to ensure that more Canadians have access to our low prices,” said in a statement Dirk Van den Berghe, CEO Walmart Canada. “These 13 stores are ideally located and we are delighted to offer customers in these markets access to our Supercenters.”

This transaction and the commitment to invest $ 350 million in addition to the 29 planned Supercenters across the country and announced on 11 February.

Categories: Business

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