Target, the popular American department store, may soon be making an appearance locally after the Hudson’s Bay Company announced Thursday a $1.8 billion deal to sell Zellers.
As part of the deal, Target plans to open between 100 and 150 of its stores across Canada by 2014. As well, the retailer plans to rebrand certain Zellers locations under the Target banner.
“The sale … is estimated to create over 20,000 net new jobs in Canada and has the potential to generate over $1.5 billion in Canadian economic activity through the renovation of the Zellers locations,” stated an HBC press release.
The chain has been operational in Canada since the early 1930s, when Water P. Zeller purchased 14 Schulte-United stores and transformed them into Zellers.
There are 279 Zellers stores across Canada, including two in Surrey and one in Delta.