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Discount retailer Giant Tiger put up for sale

RBR Staff Writer Published 07 October 2013

Canadian discount retailer Giant Tiger, which is struggling to restore profitability, is reportedly being put up for sale, valued around $800m.

Founded in 1961, the privately owned Giant Tiger operates more than 200 stores throughout Canada, of which majority are franchised.

The chain has hired American multinational investment banking firm Goldman Sachs Group to advice on a potential sale, reports Reuters citing other sources.

Giant Tiger, which employs more than 7,000 people, has reported earnings before interest, tax, depreciation and amortization (EBITDA) of $80m. According to sources, EBITDA of $80m could attract a valuation of around 10 times that amount.

Discount retail in Canada is becoming increasingly competitive as big US chains are eating into the market share of smaller Canadian players.

Giant Tiger operates 207 stores, including 106 in Ontario, 51 in Quebec (as Tigre Géant and Chez Tante Marie), 13 in Manitoba, 13 in Alberta, 8 in Saskatchewan, 6 in New Brunswick, 7 in Nova Scotia, and 1 in British Columbia.