Dollarama plans expansion of Dollarcity to Mexico

The Montreal-based company says it acquired the additional stake in exchange for 6,060,478 Dollarama common shares. The shares were worth a total of about $761.7 million based on Dollarama's share price of $125.68 on Tuesday.

Dollarama and the Dollarcity founding stockholders will indirectly have an 80.05 per cent and 19.95 per cent interest, respectively, in the Mexican portion of the business. Dollarcity intends to pilot its first store in Mexico in 2026. The deal came as Dollarama reported a profit of $215.8 million or 77 cents per diluted for its quarter ended April 28, up from a profit of $179.9 million or 63 cents per diluted share a year earlier.

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