Canadian Tire Works Sale-Lease Deal

Canadian Tire said it expects a pre-tax gain on the sale of approximately $70 million, which will be amortized over the initial 15-year term of the leases.

"While we continue to see real value in owning the majority of our real estate assets, carefully selected sale/leasebacks enable us to monetize the value of select properties creating financial flexibility while maintaining our overall operating flexibility," says Tom Gauld, president and CEO of Canadian Tire. "The properties included in this transaction are locations featuring stores that are either new or recently expanded so we do not see a need to relocate these stores in the foreseeable future. This enables us to monetize these sites at attractive rates while creating financial flexibility." (Tire Review/Akron)

GRI recently conducted programs in Sri Lanka to empower women and motivate children under its Green x Circle initiative. The company said these endeavors aimed to address the needs of the community, focusing on both women empowerment and youth motivation.

GRI recently organized a training program titled "Management of household finance under current economic conditions" at the Ingiriya Rubber Collecting Center in Sri Lanka, South Asia led by Shashika Nimali, an NLP practitioner and life coach. The company said this initiative provided women in the industry with essential skills and knowledge to effectively manage household finances. GRI's tailored training sessions equipped participants with tools for informed decision-making, ultimately fostering greater financial security and independence, the company said.