Dollarama ups stake in Latin American business Dollarcity, plans expansion to Mexico

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Dollarama Inc. has increased its stake in Latin American retailer Dollarcity to 60.1 per cent with the acquisition of an additional 10 per cent interest and announced plans that will see Dollarcity expand into Mexico.

The Montreal-based company says it acquired the additional stake in exchange for 6,060,478 Dollarama common shares. The shares were worth a total of about $761.7 million based on Dollarama's share price of $125.68 on Tuesday.

"We look forward to preparing for entry in Mexico in the near term, a large and dynamic market with untapped potential in the value retail space, guided by the same careful and disciplined approach as with our successful entries in Colombia in 2017 and in Peru in 2021." "As Canadian consumers continue to seek out compelling value for their hard-earned money, we will remain focused on executing on our value and convenience promise."The stakes are high in a looming June 24 federal byelection in a long-held Liberal riding in Toronto, and if Prime Minister Justin Trudeau's party shows signs of slipping, it could spark a bigger conversation, CTV News' pollster Nik Nanos says.

Border agents in Gander, N.L., were unavailable or unwilling to process passengers on a diverted flight from Washington to Paris early Monday.A tentative deal as been reached with more than 9,000 Canada Border Services Agency employees, averting a potential job action that threatened to stall crossings at Canadian entry points, according to the workers' union.

Celine Dion says she experienced terrifying symptoms for years and decided to go public with her rare illness once the burden of lying to fans about her condition became 'too much.'With monetary policy at the Bank of Canada and U.S. Federal Reserve on track to diverge, experts say it could set the Canadian dollar up for volatility down the road.

The audio from the final moments of 15-year-old Alfred Wong’s life were played for a jury at the murder trial of his accused killer in B.C. Supreme Court Tuesday.Admitting she’s not happy about it and calling it an “NDP imposed” transition, Surrey Mayor Brenda Locke nevertheless announced she is giving up her long battle to keep the RCMP.Starting in September, Vancouver students from kindergarten to Grade 7 won’t be able to have their cellphones out at school.

'Just tell me this is a dead end': N.Y. woman frustrated by investigation after car stolen at Montreal airport The University of Guelph is responding to concerns about their residence waitlist and complaints that international students are to blame.Saskatoon Two competing chip stands in Sturgeon Falls located across the street from each other are both up for sale for more than a $1 million each.

 

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