Associates Financial Acquires Hamilton Discount for $135M

Associates Financial Services of Canada Ltd. acquired Hamilton Discount Corporation Limited from Canadian Tire Acceptance Limited on March 1, 2001. In addition, Associates purchased from Canadian Tire Acceptance a private label credit card business managed on behalf of a third-party retailer. Total cash proceeds from the transaction exceeded $135 million. Hamilton Discount Corporation is a provider of private-label credit card programs to some of Canada’s largest retailers. Through this transaction, Associates extended its leadership in the private-label credit card business. Canadian Tire will concentrate on its own Canadian Tire-branded credit products.

Blake, Cassels & Graydon LLP was retained to assist Associates in the transaction, with a team comprised of Greg Frenette, Ted Betts (corporate), Dawn Jetten (regulatory) and Rob Kwinter (competition). Canadian Tire was represented by the Cassels Brock & Blackwell LLP team of Robyn Collver, Bruce Clark, Craig Podrebarac, Maria Rossi (corporate) and Frank Monteleone (competition).


Robyn A. Collver Gregory M. Frenette W. Bruce Clark R. Craig Podrebarac Robert E. Kwinter Ted Betts Maria-Anna Rossi C. Dawn Jetten