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“We are pleased to announce our sale of the retail operations of Toys’R’Us Canada to Doug Putman,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “The transaction continues the implementation of the monetization plan for certain non-insurance holdings of Fairfax. Fairfax retains substantially all of the real estate acquired in our original purchase of Toys’R’Us Canada and, through a continuing royalty stream, we are provided with an opportunity to benefit over time in the future success of the business. This transaction would not have been possible without the steady and sound leadership of Vic Bertrand and his management team at Toys’R’Us Canada, and we are very thankful for all of their efforts to build the Toys’R’Us Canada brand.”
The pandemic has demonstrated the resilience of the toys, games and baby sector and its value in the hearts of Canadians as was evidenced by the large growth of toy sales the last year.
Source: Business Wire
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