Walmart latest retailer to scoop up Target sites

TORONTO — Just two days after Canadian Tire announced it would buy up a dozen Target Canada leases, Walmart Canada reveals that it will assume 12 leases, buy one site outright, and acquire a 1.4 million-square-foot distribution centre in Cornwall, Ont. That deal is valued at about $165 million and gives Walmart four more stores in both British Columbia and in Quebec. The company will spend another $185 million upgrading and renovating all the stores.