Burnaby’s Canlan Ice Sports Corp. is expanding its U.S. operations by proposing to buy a three-rink, 106,000-square-foot facility in the Chicago suburb of Romeoville.
The company (TSX:ICE) would not reveal the financial details of the deal, which is subject to court approval, although the complex was built at a cost of about $13.8 million in 2006.
If the deal goes ahead, however, Canlan will have 22 facilities across North America, including complexes such as Burnaby 8 Rinks and Langley Twin Rinks.
“Today’s announcement is consistent with our strategy to continue to expand our U.S. operations by acquiring ice and turf sport facilities with significant upside potential at a favourable valuation,” Canlan president and CEO Joey St-Aubin said in a release.
Business in Vancouver has followed Canlan’s expansion into the U.S. in past stories. (See “Metro Vancouver recreational ice rink operator expands its U.S. holdings” – October 1, 2008; BIV Business Today).
Glen Korstrom
Twitter: @GlenKorstrom