Giant Tiger Stores Ltd. is one of the biggest discount chains in Canada. According to three people familiar with the matter on Thursday, the company had been exploring a sale that could fetch around USD800 million.

The discount store chain has more than 200 stores all over Canada with more than 7000 employees. Giant Tiger Stores was established 1961 and had nearly all of its stores franchised. The company hired Goldman Sachs Group Inc. as its advisor, said the sources.

The company had approximately USD80 million in earnings before interest, tax, depreciation and amortization (EBITDA), said a Reuters report. Giant Tiger Stores could attract a valuation of around 10 times that amount, sources told Reuters who spoke in condition of anonymity as the sale process were held private in nature.

Giant Tiger was not immediately available to comment while Goldman Sachs refused to give statements.