Lowe’s acquires Target outlets in Canada

Lowe’s Canada is acquiring 13 outlets from the Target superstore chain along with its central warehouse in Milton, Ontario, for a payment of CAD 151 mio. The acquisition is the result of the decision of US retailer Target to withdraw from the Canadian market.
According to a statement by Sylvain Prud’homme, president of Lowe’s Canada, the additional stores will drive forward expansion in Canada and increase the company’s presence in the west of the country. The locations are spread across the entire country, with many reportedly in areas in which Lowe’s is under-represented.