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Canadian Tire Corporation purchased Mark’s Work Wearhouse for $109 million in early 2002. [2] At this time, Mark's Work Wearhouse operated 325 corporate and franchisee stores in Canada. The acquisition provided Mark’s Work Wearhouse with additional capital which allowed it to grow between 2001 and 2008 to 372 stores across Canada.
Canadian Tire entered the clothing market by acquiring Mark's Work Wearhouse in 2001. [ 10 ] In 2003, CTC established the Canadian Tire Bank , under Canada's Bank Act , from its then-named Canadian Tire Financial Services, Limited , subsidiary along with its Mastercard portfolio, [ 11 ] which was later renamed as Canadian Tire Services, Limited ...
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Also in 2014, after years of running the business, Michael Budman and Don Green hired a president and chief operating officer, Wendy Bennison, [25] who was previously vice president of Mark's Work Warehouse. [26] In 2015, Roots was sold to Searchlight Capital LP, which now holds a majority stake with the founders retaining a minority stake. [27]
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