Fairfax Financial closes acquisition of Toys "R" Us Canada
Fairfax Financial Holdings has closed its acquisition of Toys "R" Us (Canada) Ltd, a Concord, Ontario-based specialty retailer of toys and baby products. The deal is valued at more than $300 million (US$237 million), according to a report by Reuters. Established in 1983, Toys "R" Us Canada and its affiliate Babies "R" Us Canada operate through more than 80 stores located coast to coast. The company's former U.S.-based parent filed for bankruptcy last September and announced its liquidation in March. In April, U.S. and Canadian courts authorized the sale of the domestic business to Fairfax, a Toronto-based holding company led by billionaire Prem Watsa.
1 June 2018•4 mins read
