The Globe and Mail reports in its Tuesday, Dec. 5, edition that a company controlled by Canadian retail veteran Joe Mimran is buying faltering Mastermind Toys. The Globe's Susan Krashinsky Robertson writes that Mastermind announced on Monday that it had struck a deal with Unity Acquisitions. Unity is owned by Mr. Mimran, seasoned retailer Frank Rocchetti and former Canadian Tire marketing executive David Lui, who is Unity's chief executive officer. Earlier this year, Unity acquired another Canadian retailer, Kit and Ace, for an undisclosed sum, as well as Vancouver-based shoe brand Casca Footwear. Mastermind, which operates 66 stores across Canada, is still going ahead with planned liquidations at 18 of its stores. Mr. Mimran said in a press release: "Mastermind Toys is a beloved Canadian retailer with a loyal customer base driven by quality, curiosity and play. The acquisition aligns with Unity's strategy to enhance and grow extraordinary Canadian brands." Mastermind employs about 800 people -- 625 of them part-time store staff and 175 full-time employees. The terms of the deal, which still requires approval from the Ontario Superior Court of Justice, were not disclosed.