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Canadian retailer buys stake in British Columbia’s largest inland port

$32M deal will help Canadian Tire get containers from Vancouver more efficiently

Ashcroft Terminal lies about 185 mies east of the Port of Vancouver. (Photo: Ashcroft Terminal)

Canadian Tire is acquiring a 25% stake in Ashcroft Terminal, the largest inland port in British Columbia, in a deal that will allow the Canadian retailer to move containers more efficiently from the Port of Vancouver and improve access to CN and Canadian Pacific rail capacity.

Ashcroft Terminal announced the CA$40 million ($32 million) deal on Thursday. Operator PSA International will retain a 60% stake in the transloading and intermodal facility. 

Canadian Tire (TSX:CTC), Canada’s largest container importer, said the deal will allow the company to improve supply chain performance and reduce carbon emissions as it moves cargo via the rails instead of by truck from the port. 

“Having strategic access to high-demand capacity will enable greater control over our end-to-end supply chain, which has become increasingly critical in a time where global supply chains have been completely disrupted and new resiliency is required,” Paul Draffin, Canadian TIre’s chief supply officer, said in a statement. 

Ashcroft Terminal is about 185 miles east of Vancouver, intersecting with CP (NYSE:CP) and CN (NYSE:CNI) rail lines. It handles about 7,000 railcars and 6,000 trucks each year. 

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Nate Tabak

Nate Tabak is a Toronto-based journalist and producer who covers cybersecurity and cross-border trucking and logistics for FreightWaves. He spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at [email protected].