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Canadian Tire will expand their demographics in sporting good sales through the purchase of Forzani’s.
Updated: Mon May. 09 2011 17:16:25
ctvcalgary.ca
The Forzani Group has been bought by another Canadian retail giant for almost $800 million in a friendly, all-cash deal. Canadian Tire will spend over $771 million to acquire the Calgary-based company.
Forzani’s operates some of the best known sporting goods retailers in the country.
The deal will see Canadian Tire take control of Forzani Group Ltd. which includes Sport Check, Athlete’s World, Nevada Bob’s Golf, and other retailers.
The Forzani Group started as the Forzani’s Locker Room in 1974 with one small store in Calgary.
The brainchild of John Forzani, he says the idea for the store started because the Stampeders couldn’t get proper footwear.
Within twenty years the group became the largest sporting retailer in the country.
