The Children's Place Retail Stores Inc today said it has completed its acquisition of 23 store leases and certain other related assets of Au Coin des Petits/Young Canada, the children's division of Comark Inc.

Of the stores, 12 are located in Quebec and 11 in Ontario, and all will be converted into The Children's Place stores.

The company said it also plans to open an additional seven stores in Canada by year-end, and has leased a 30,000 square foot distribution centre in Mississauga, Ontario.

"This acquisition gives The Children's Place the foundation to expand up to 125 stores in the Canadian market," commented Ezra Dabah, chairman and chief executive officer.

In addition, Lesya McQueen has been appointed as vice president of Canadian operations. Ms McQueen most recently served as vice president of music retailer HMV North America.