CORNWALL – Walmart has reached a deal to buy the Target distribution center in Cornwall as well as 13 former Target locations across Canada.
It also plans to add approximately 1,000 jobs in Cornwall at the distribution center.
Walmart company officials announced Friday morning they are buying the 1.4 million square foot building on Industrial Park Drive and the 13 stores for $165 million.
The deals still have to be approved by the creditors of Target Canada.
The Mississauga-based company then plans to invest $350 million in renovations over the next few months.
“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.
The rest of the Walmart’s plans are not known such as what, if anything, will happen with its existing distribution center on SCM Way, known as Supply Chain Management. That building went through an expansion in 2013 to add a High Velocity Distribution Center component.
The city’s economic development office has indicated that the former Target DC purchase is going to be a “second distribution center in Cornwall.”
The SCM building is about the same size as the Target distribution center and employs about 900 people.
Around 300 people lost their jobs at Eleven Points Logistics when Target announced in January it was filing for bankruptcy and pulling out of Canada.