Dive Brief:
- After teasing its intention earlier this year, GameStop has sold its Canadian business (officially named Electronics Boutique Canada Inc.) to entrepreneur Stephan Tetrault, according to a Monday press release. Tetrault will act as company CEO, and the terms of the acquisition were not disclosed.
- Now known as “GameStop Canada,” the business will be relaunched as EB Games Canada — its company name before being rebranded in 2021. The retailer has more than 185 stores across Canada.
- The relaunch will be accompanied by “in-store events, expanded product lines, deeper integration with pop culture brands, and a renewed focus on Canadians,” per the release.
Dive Insight:
French-Canadian entrepreneur Tetrault has positioned his acquisition as an effort to revitalize the country’s retail gaming industry.
"This isn't just a business decision—it's about bringing something back that Canadians truly loved," Tetrault said in a statement. "We're going to build something special here, with community, nostalgia, and innovation at its heart."
Tetrault is listed as a co-owner of action figure manufacturer McFarlane Toys and game company Imports Dragon on LinkedIn.
This deal comes as no surprise, after the company in February announced it was in the market to sell its assets in the country, as well as its French business. CEO Ryan Cohen had shared an email contact in a post on X for those interested in an acquisition, adding that, “High taxes, liberalism, socialism, progressivism, wokeness and DEI included at no additional cost if you buy today.”
The sale of GameStop’s international assets follows news in March that the company would close a “significant number” of stores in 2025. In 2024, the company decreased its footprint with the closure of about 600 U.S. locations.
The company’s fourth-quarter net sales fell 28.5% year over year to $1.3 billion, and net income more than doubled to $131 million. In the quarter, GameStop completed its divestiture of its operations in Italy and “the wind-down of store operations in Germany.”
In March, the gaming retailer also announced that its board voted unanimously to add bitcoin as a treasury reserve asset. The company acknowledged it was a “highly volatile” asset and could prove unsuccessful as a strategy.
