MONTREAL — 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.
The shares were worth a total of about $761.7 million based on Dollarama's share price of $125.68 on Tuesday. Dollarama and the Dollarcity founding stockholders also announced that they have agreed on governance terms for the expansion of the business to Mexico.Dollarama and the Dollarcity founding stockholders will indirectly have an 80.05 per cent and 19.95 per cent interest, respectively, in the Mexican portion of the business. Dollarcity intends to pilot its first store in Mexico in 2026.
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