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Friday, October 4, 2013

Is Giant Tiger Up For Sale?

Giant Tiger, which has proven to be exceptionally popular in Saint John at Prince Edward Square, is looking at a sale with a value $800-million being talked about.

The chain has more than 200 stores throughout the country and employs more than 7,000 people. It has hired Goldman Sachs to give advice on a potential sale.

The company has around $80-million (U.S.) in earnings. It's believed a valuation could be around 10 times that amount.

Giant Tiger was founded in 1961. It's privately owned and operates with nearly all of its stores franchised.