Competition Bureau Releases Canadian Tire/Forzani "Position Statement"

On October 5, 2011, the Competition Bureau released a "Position Statement" summarizing its approach in reviewing Canadian Tire's recent acquisition of the Forzani Group. The transaction, which took the form of a takeover bid, was announced on May 9, 2011, and the Bureau cleared the transaction on August 3, 2011. The transaction provided the Bureau with the relatively rare opportunity to review a retail merger between retailers carrying on business using different business models: Forzani is a national sporting goods retailer (including sports apparel and equipment), and Canadian Tire is a mass merchandiser selling products, through a network of independent dealers, across a range of categories, including sporting goods as well as automotive parts, tools, house wares and electronics.