Walmart Acquires 13 Target Locations
Walmart Canada will be buying 13 former Target Canada stores—including four in the Lower Mainland—and a distribution centre in a $165M deal that CEO Dirk Van den Berghe said will “accelerate" its Canadian operation growth plans. Acquired B.C. locations include former Target stores at Coquitlam Centre, Central City in Surrey, Scottsdale Mall in Delta (above) and Haney Place Mall in Maple Ridge. Walmart will invest $185M to renovate the Target locations into Supercentres. Canadian Tire Corp last week acquired 12 Target leases, and just today home improvement retailer Lowe's Canada said it's bought 13 Target locations.