Giant Tiger Decides to Explore Business Options

As part of a natural evolution in the life of a privately-held company that has been in business for over 50 years, the founding family and controlling shareholder, has decided to explore its alternatives, which include a potential sale of the company.
 
"Our company is profitable and growing. We do not require external financing and are not under any pressure to sell" says Andy Gross, CEO Giant Tiger Stores Limited. "We are entering this review and exercise from a position of strength."
 
Mr. Gordon Reid, who founded Giant Tiger Stores Limited in 1961 and is now 80 years old, says "I and the entire team who built our company to be the best discount chain in Canada and in North America, are proud of our results, our current sales and profit growth in a stagnant market, and we are focused on ensuring a successful future for Giant Tiger."
 
Giant Tiger continues to invest in its unique franchise system, buying teams, support teams, systems and offices in Ottawa and Montreal. These are all long term investments.
 
"As always Giant Tiger remains focused on serving its customers, building its business and helping our communities" says Andy Gross.

on October 4, 2013