Canadian Tire Completes Acquisition of The Forzani Group

TORONTO AND CALGARY, Aug. 25, 2011 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC, TSX: CTC.a) announced today that its wholly-owned subsidiary FGL AcquisitionCo Limited (the "Offeror") has successfully acquired the 905,853 remaining Class "A" shares ("Common Shares") of The Forzani Group Ltd. (TSX:FGL) ("Forzani") not already owned by the Offeror and its affiliates, representing approximately 3% of the issued and outstanding Common Shares, pursuant to a compulsory acquisition carried out under the provisions of the Business Corporations Act (Alberta) following its previously announced successful take-over bid. As a result of the acquisition of such shares, the Offeror now owns 100% of the issued and outstanding Common Shares of Forzani.

The Common Shares of Forzani have been de-listed from the Toronto Stock Exchange, and Forzani has applied to all relevant securities commissions to cease to be a reporting issuer in all applicable jurisdictions in Canada.

Canadian Tire Corporation, Limited (TSX:CTC.a) (TSX:CTC) is one of Canada's most-shopped general retailers and the country's largest sporting goods retailer, with more than 1,700 retail and gasoline outlets from coast-to-coast. Our primary retail business categories - Automotive, Living, Fixing, Playing and Apparel - are supported and strengthened by our Financial Services division, which offers such products and services as credit cards, retail deposits, in-store financing, product warranties, and insurance. Nearly 68,000 people are employed across the Canadian Tire enterprise, which was founded in 1922 and remains one of Canada's most recognized and trusted brands.


For further information:

Investors: Angela McMonagle, 416-480-8225
Media: Rob Nicol, 416-480-8414

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