Lowe’s Canada is expanding its retail presence in the country, completing the acquisition of 12 former Target sites. The home improvement retailer also plans to open two more locations in Ontario, which will boost its store count in the country to 54 locations.
Construction of the two additional locations is currently underway in Ancaster and Mississauga, representing an additional investment in excess of approximately C$50 million, the company said.
“These 14 new locations are a tremendous win for us in Canada, accelerating our growth across the country,” said Sylvain Prud’homme, president of Lowe’s Canada. “We continue to receive a positive reaction from our customers on our store experience and this helps us reach additional communities more quickly.”
The new Lowe’s store sites are located across Canada, many in markets where it is currently underpenetrated, the retailer noted. As a result of these new locations, the company said approximately 2,000 jobs will be created in Canada, and Lowe’s total Canadian store count will increase to 54 locations including 37 stores in Ontario, three in Saskatchewan, nine in Alberta and five in British Columbia.
The company said the acquisition of the 12 former Target locations has been completed, including the purchase of Target’s Milton, Ontario distribution center for a total purchase price of approximately C$147.75 million. The 14 new stores, located across the country, will enhance Lowe’s presence in Western Canada and strengthen its base in Ontario adding four new sites in British Columbia, two in Alberta, one in Saskatchewan and seven in Ontario.
Lowe’s Canada is slated to open its 40th store in Saskatoon, Saskatchewan, this August. Opening dates for the remaining 14 locations will vary based on construction and permitting schedules, the company said.