Canadian Tire is buying 65 Party City stores across Canada in a move the national retailer expects will strengthen its connection with millennial customers.
The Toronto-based company says it plans to add stand-alone Party City stores and sell its products at 500 Canadian Tire retail stores and online.
Canadian Tire estimates it will be able to double Party City’s annual sales in Canada by 2021.
The New York-based company has been struggling in an increasingly competitive retail environment, including strong competition from online retailers.
