Canada’s Warren Buffett buys retail landmarks

Rosedale’s Prem Watsa snaps up William Ashley’s and Sporting Life


Published:

Fairfax Financial Holdings Limited, headed up by Rosedale’s Prem Watsa, recently acquired a controlling stake in Sporting Life. Watsa will support plans by the original owners — and holders of the remaining stake — to expand their brand across the country.

“Today’s acquisition is consistent with our ongoing interest in acquiring strong, established franchises from entrepreneurial founders who want to find a long-term home for their business,” Watsa said.

Last year, Fairfax snapped up Prime Restaurants (East Side Mario’s and others) and the Yorkville-based William Ashley China. Watsa also was recently added to the struggling Research in Motion’s board of directors.

Sporting Life president, David Russell, said he and his partners were looking at ways to grow the high-end sporting goods business while still remaining involved in the company.

The deal will see Russell and his partners continue to oversee the day-to-day operations.

“The Fairfax people — they’re long-term holders. What we like about that is we can grow at a pace that’s appropriate,” Russell said.

Edit Module

Follow us on Twitter @PostCity for more on what to eat, where to shop and what to do in Toronto.

Edit ModuleShow Tags

You may also like...

Thornhill dad relieved by Supreme Court of Canada medical marijuana ruling

Thornhill dad relieved by Supreme Court of Canada medical marijuana ruling

Epileptic girl was treated with marijuana oil, but it was illegal until now
Posted 1 day ago
Midtown hub proposed for surplus TDSB land at Yonge and Davisville

Midtown hub proposed for surplus TDSB land at Yonge and Davisville

An acre of surplus land on public school property prompted residents to voice their own plan.
Posted 2 days ago
Stintz on Midtown: Can schools in North Toronto handle the kids from new condos?

Stintz on Midtown: Can schools in North Toronto handle the kids from new condos?

Growth is good, but let’s make sure we don’t sacrifice what makes this area great
Posted 2 days ago
Another island at the mouth of Don? Yes, please.

Another island at the mouth of Don? Yes, please.

Redevelopment proposal includes the creation of a new Toronto island at the mouth of the Don River
Posted 4 weeks ago
Edit ModuleShow Tags Edit Module