Toronto, ON — Dec. 19, 2001 — Can you imagine the next time you need a tool for a maintenance job that you could pick up some new work duds at the same time? It could be true shortly, as Canadian Tire Corp. has announced a $116-million takeover bid for Mark’s Work Wearhouse Ltd.
Canadian Tire expects to obtain benefits and cost savings by leveraging the strengths of both organizations. Mark’s Work Wearhouse will be operated as a separate division if the takeover is successful. Mark’s customers would be able to use Canadian Tire money and its credit card.
The company says both chains serve the same type of customer, typically aged 25-59, by providing items for everyday use. The deal is expected to close in February.
By Bill Roebuck, Editor