This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

FGL Sports Completes Acquisition Of Pro Hockey Life

TORONTO and MONTREAL, Aug. 12, 2013 /CNW/ - FGL Sports Ltd. (FGL Sports), a division of Canadian Tire Corporation, Limited (TSX:CTC) (TSX:CTC.a), announced today that it has completed the acquisition of Pro Hockey Life Sporting Goods Inc.

"Pro Hockey Life offers the best hockey products available in the world and gives us an even wider range of options for customers - from your first skates at Canadian Tire, to high performance hockey with Sport Chek and Sports Experts and now elite hockey equipment from Pro Hockey Life," said Michael Medline, President of FGL Sports and Executive Vice President of Canadian Tire Corporation.  "We are proud to support Canada's game through our relationship with Hockey Canada and the Canadian Olympic Committee, our commitment to helping kids in need through our Jumpstart Charity and our dedication to hockey players and teams across the country."

FGL Sports purchased Pro Hockey Life, a private company, for $85 million. Pro Hockey Life is a premier sports retailer with 23 urban, high-end hockey stores operating in five provinces across Canada. It has annual revenue of approximately $95 million. Pro Hockey Life will operate as a banner under FGL Sports, joining super brands such as Sport Chek and Sports Experts.

The acquisition will bolster FGL Sports' capacity to provide Canadians with an unparalleled selection of hockey equipment, knowledgeable staff and excellent customer experience. The deal will also provide FGL Sports with the ability to serve a broader cross section of hockey players of varying ages and skill levels.

As at closing, the Competition Bureau had not issued a clearance, in the form of an advance ruling certificate or no-action letter, in respect of the acquisition.  The Competition Act permits the Commissioner of Competition to make an application to the Competition Tribunal in respect of a merger of this type for a period of one year after its implementation.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs