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 girl’s seizures end with cannabidiol-rich medical marijuana oil

Thornhill girl’s seizures end with cannabidiol-rich medical marijuana oil

Gwenevere “Gwen” Repetski turned three about a week before Father’s Day and her parents are overjoyed to see their daughter crawling and laughing. She was diagnosed with epilepsy when she had her first seizure in 2012. Her father, Alexander Repetski feeds Gwen cannabidiol CBD three times a day, and she hasn’t had a seizure since the treatment began.
Posted 5 days ago
Stintz on Midtown: My other car is a bike

Stintz on Midtown: My other car is a bike

The city should start experimenting with rolling stops and find new options
Posted 5 days ago
Looking Back: Why T.O. should be very proud of Pride, 44 years after the original picnic

Looking Back: Why T.O. should be very proud of Pride, 44 years after the original picnic

Plus this year’s extremely high profile grand marshal and his rocket man partner
Posted 2 weeks ago
Daily Planet: Milkweed is the key to saving the monarch butterfly

Daily Planet: Milkweed is the key to saving the monarch butterfly

How Torontonians can save the monarch butterflies by protecting the milkweed that their caterpillars need as food.
Posted 2 weeks ago
Edit ModuleShow Tags Edit Module