Canadian Tire extends contract with CP

by Emily Atkins

Canadian Tire has signed a new multi-year agreement with Canadian Pacific to continue moving the retailer’s goods in Canada.

“CP is proud to continue our near-century-long commercial relationship with Canadian Tire, another iconic Canadian brand,” said Keith Creel, CP president and CEO.

“As the single largest container importer in Canada, CTC will benefit from CP’s leading service, reliability and network capacity across Canada.”

To support the movement of CTC’s goods and reduce carbon emissions, CP will begin directly serving Ashcroft Terminal in Ashcroft, B.C., reducing the need to shift volumes to truck. Canadian Tire took a stake in the inland terminal in August 2021.

Read more about Canadian Tire’s supply chain strategy: Owning the supply chain

“CP has been one of our most trusted and long-standing partners, and played an important role in the company’s early growth. As we embark on our 100th year in business, we are pleased to continue working together with CP to ensure our products move efficiently across the country to meet our customers’ needs,” said Greg Hicks, Canadian Tire Corporation president and CEO.

“Our commitment to operate as a sustainable Canadian brand aligns to CP’s efforts to reduce greenhouse gas emissions by creating efficiencies in the supply chain, and we look forward to collaborating on further initiatives to reduce carbon emissions in Canada.”

The agreement builds on the more than 90 years of shared successes. The deal also allows Canadian Tire to explore on-sure sourcing opportunities with CP’s network reach.