FHC Holdings Ltd. has closed on its acquisition of 57 Fields Store locations from Hudson’s Bay Co.
This story first appeared in the May 7, 2012 issue of WWD. Subscribe Today.
The 57 Fields stores are in British Columbia, Alberta, Saskatchewan, Manitoba and the Northwest Territories. The dollar amount of the deal was not disclosed. The transaction includes inventory at the store sites and the Fields brand.
“Fields has been an integral part of many communities across Western Canada for many years,” said Jason McDougall, president of FHC. “Our team is very excited at the prospect of serving the 57 communities…and will work to ensure people continue to be able to get what they need in their local communities.”
Store locations not acquired by FHC will be shuttered by Hudson’s Bay. FHC said once the sites are shuttered, it will eye opportunities to work directly with landlords in those communities to continue the Fields operations there.