Canadian Tire buys out minority stake in its financial division

Canadian Tire Corp. has announced its repurchase of Scotiabank’s 20 percent stake in Canadian Tire Financial Services (CTFS). With the $895 million all-cash transaction, CTC is once again full owner of its financial services arm. CTFS is key to the company’s Triangle Rewards program, accounting for some 75 percent of all Canadian Tire Money issued each year.