CANADA: Giant Tiger Discount Chain Up For Sale?
Giant Tiger Stores, one of Canada's largest discounters, is reportedly considering putting itself up for sale, in a move that could be worth around $800m. According to a Reuters report, which cited unnamed sources, the 207-store chain has hired Goldman Sachs to advise on a potential sale.
Giant Tiger operates stores in Quebec, Ontario, Manitoba, Alberta, Saskatchewan, New Brunswick, Nova Scotia, and British Columbia under the Giant Tiger, Tigre Géant, Chez Tante Marie, GTExpress and Scott's Discount banners.
Last year, the group generated EBITDA of around $80m on estimated sales of $1.6bn. It hires nearly 7,000 staff, and most of its stores are franchised.
NamNews - Friday 4th October 2013