Putman Investments acquires clothing retailer Northern Reflections

Putman Investments, the owner of Toys “R” Us Canada and HMV in the UK, has acquired Canadian women’s clothing retailer Northern Reflections Limited for an undisclosed sum.

The acquisition comes as Northern Reflections celebrates its 40th anniversary and includes all 134 stores across nine provinces in Canada and a growing e-commerce presence.

Doug Putman, founder of Ancaster-based Putman Investments, said in a statement: "The apparel industry has always been on our radar, but we were looking for the right opportunity to get into the space.

"Northern Reflections is a great Canadian heritage brand with a loyal customer base, strong leadership and a dedicated in-store team. We really like where the business is now, along with the strategic vision of the leadership team, and look forward to supporting future plans for the company."

Northern Reflections employs more than 860 people across Canada and will continue to be led by president Maryann Darling.

Commenting on the new ownership, Darling added: "Since 1985, Northern Reflections has been a cornerstone of Canadian retail, offering our customers quality, comfort and timeless style.

"Our business will only get better. I'm excited about our new ownership and we look forward to continuing to serve our loyal customers in all our store locations and online."