Leon’s Furniture Limited has agreed to acquire the remaining 50% interest in its Edmonton distribution centre, which also serves as The Brick’s corporate headquarters, giving the company full ownership of the facility.

Under the agreement, Leon’s will purchase the outstanding interest in the property from North 170 DC LTD, a subsidiary of Qualico Properties, for approximately $45.8 million in cash. The transaction is expected to close on October 1.

Officially opened in early 2025, the combined facility spans 500,00 square feet, marking one of the most significant property investments in Toronto-based Leon’s century-long history.

“This is a high-quality, well-located asset that is already core to how we operate in Western Canada,” said Mike Walsh, president and chief executive officer of Leon’s. “Since opening, the facility has expanded our distribution capabilities in the region, driven enhancements in product availability and service levels, and given us the capacity to support future growth.

“Increasing our ownership reflects a disciplined investment in an asset we know well, that plays a central role in our distribution network and supports long-term efficiency across the business.”

Walsh said the facility has strengthened the company’s distribution network in Western Canada by improving product availability, service levels and capacity for future growth.

Leon’s is Canada’s largest retailer of furniture, appliances and electronics. The company operates 301 stores across the country under banners including Leon’s, The Brick, Brick Outlet and The Brick Mattress Store, and is also a major supplier of appliances to builders, developers, hotels and property management companies through its commercial appliance businesses.

Pictured: Leon’s combined distribution centre and Brick’s corporate headquarters in Edmonton.

Photo: Leon’s Furniture