Canadian Tire raises funds to build brands

TORONTO — Canadian Tire Corp. may be getting ready for more acquisitions. It has just completed a public offering, through its CT Real Estate Investment Trust, of 21,115,000 units of CT REIT at a price of $12.55 per unit. The offering consisted of a secondary offering of 15,936,000 Units by CTC and a treasury offering of 5,179,000 Units by CT REIT, for gross proceeds of approximately $200 million and $65 million, respectively. The company says part of the proceeds from the offering will be used to support its continued investment in Canadian Tire’s brand strategy, which includes most recently the acquisition of Helly Hansen.