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A Lowe’s sign is seen in this file photo.Fred Lum/The Globe and Mail

Lowe's Canada said Friday it will spend $50-million to build two new stores in Ontario.

In addition to a dozen former Target Canada stores it recently acquired, the home improvement retailer said it will grow to 54 stores in Canada.

Lowe's acquired 12 former Target locations as well as Target's Milton, Ont., distribution centre for $147.75-million after the company decided to close its Canadian operations.

Lowe's had earlier agreed to buy 13 former Target Canada locations and the distribution centre for about $151-million, but a deal could not be reached on one of the locations.

The 14 new stores will be located across the country including four new stores in British Columbia, two in Alberta, one in Saskatchewan and seven in Ontario.

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SymbolName% changeLast
LOW-N
Lowe's Companies
-1.4%230.29

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