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Ontario  + Canada + Pacific Canada + Quebec  + Retail  | 
Tip Top is returning to Quebec after a two-decade absence.

Stern to Acquire Men’s Clothing Retailer Grafton

Stern Partners has entered into a definitive agreement to purchase men’s clothing retailer Grafton Apparel.

Toronto-based Grafton owns and operates stores under the Tip Top, George Richards and Mr. Big & Tall banners across Canada. The retailer will continue to independently operate and grow its retail and e-commerce business, the companies said in a news release.

Vancouver-based Stern is an investment firm with more than 30 years of experience investing in a diverse range of operating companies, including many in the apparel industry.

“Stern Partners brings us the benefit of strategic Canadian investors who understand the retail landscape and we look forward to leveraging their insight and resources to help us deliver even better value to our customers and enhanced growth for Grafton,” said Lance Itkoff, Grafton’s president and CEO

The acquisition comes while Grafton is expanding. The retailer opened two new Tip Top stores in Quebec this fall and plans to open two more in the province in early spring 2024.


Inside The Story

Tip TopLance Itkoff

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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