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Nationwide Acquires Canadian Group From Sears


The Nationwide
Marketing Group has purchased
Cantrex, a $2 billion Canadian buying
organization, from Sears Canada.

No purchase price was disclosed.

Cantrex is comprised of more than
1,200 independent dealers specializing
in furniture, major appliances, bedding,
CE, photography, floor coverings
and home fashions.

The acquistion excludes Corbeil
Electrique, Cantrex’s 30-store franchised
appliance chain.

Nationwide said it has enjoyed “a
long-standing collaborative relationship
with the Cantrex team,” and views
the deal as “an excellent opportunity to
further increase the group’s scale, improve
efficiencies and enhance member

“Adding billions of dollars to our
buying power with the stroke of a pen
is a good thing for our members and
another exciting step in Nationwide’s
continued growth,” said president of
Nationwide president Robert Weisner.

Added Nationwide COO Les Kirk,
“Both Nationwide and Cantrex bring
assets to the relationship that will be
leveraged to benefit the members of
both groups. The synergy between
these two companies is incredible and
we were immediately impressed with
their leadership team.”

Kirk said Nationwide expects a “fairly
seamless transition.”

Cantrex was created in 1982 by
merger, and was purchased in 2005
by Sears Canada, a unit of Sears
Holdings, to help develop the chain’s
merchandising, buying, and logistics
services in the furniture and appliance

Cantrex will continue to share distribution
facilities with Sears Canada
in Montreal, Quebec, Vancouver, British
Columbia and Vaughan, Ontario,
Sears said.

In 2006 rival buying group Brand-
Source created a new Canadian division
through a partnership with Mega
Group, a 400-member furniture, appliance
and CE buying group for independent
Canadian dealers, which
acquired BrandSource’s previous
north-of-the-border operations. Mega
Group is not affiliated with MEGA
Group USA, the Tennessee-based
buying group.