CORNWALL, Ontario – The promise of 1,000 jobs and millions in economic spinoffs was presented Friday morning when Walmart Canada announced it is taking over a former distribution centre in Cornwall.
Walmart said it will find a new home in what was once the Target Distribution Centre (also known as Eleven Points Logistics) in Cornwall’s industrial park.
The $165-million Walmart deal also includes a sizeable retail expansion as Target pulls out of the country.
“Walmart is committed to the Canadian market, and this agreement helps us accelerate our growth plans ensuring more Canadians have access to our low prices,” said Dirk Van den Berghe, President and CEO of Walmart Canada, in a statement. “The 13 stores acquired are well situated, and we are excited to bring Walmart’s successful Supercentre offer to customers in these markets. We have served millions of loyal customers, and look forward to continuing to serve them through our stores and growing e-commerce business.”
The transactions are subject to the approval of the court in accordance with Target Canada’s Companies’ Creditors Arrangement Act proceedings and certain other customary conditions.
Walmart expects to invest a further approximately $185 million to renovate the 13 stores it has acquired, as well as the Cornwall distribution centre, bringing Walmart’s total investment to approximately $350 million.
“Whenever the building came available I did communicate with a few companies and Walmart was one of them,” said Cornwall economic development manager Mark Boileau. “They recognized it as a good building.
“There aren’t too many companies that can use a building like that.”
Work on all locations is expected to start within the next few months subject to all necessary approvals. Grand opening dates and specific details for each location will be confirmed over the coming months.
The Target Distribution Centre in Cornwall employed hundreds of people, trained in logistics, which could help Walmart when it begins to staff its new acquisition.
Walmart plans to hire approximately 3,400 new associates in British Columbia, Manitoba, Ontario and Quebec and these projects are expected to generate approximately 1,500 trade and construction jobs.
Walmart has not said what it will do with its existing distribution centre in Cornwall.
