Canadian Tire has been named one of Canada’s Best Managed Companies for 2013, in a list published by Deloitte, which named 50 companies in the country.

In a statement released by Canadian Tire Corporation, Limited on Tuesday, the company says it was honoured because of its “high-performing culture and innovative business strategy.”

“It’s a great honour to be recognized as one of Canada’s Best Managed Companies,” said Doug Nathanson of Canadian Tire Corporation, in the release. “We have seen a significant cultural shift in the past few years at Canadian Tire that has increased employee engagement, positively impacted financial results and heightened pride in the Canadian Tire brand – all of which is a testament to our dedicated employees and strong leadership team.”

(*For the full list of Canada’s top 50 companies, click here…)

Canadian Tire has been around for over 90 years and its group of companies includes nearly 1,700 retail and gasoline outlets and it employs more than 85,000 people in Canada.

“Canadian Tire has always delivered what our customers and communities need for life in Canada, thanks to the loyalty and dedication of our team,” continued Nathanson. “Across our family of companies, we are constantly implementing new and sustainable solutions to meet customer, employee and investor expectations, while strengthening our position within the industry.”

The Canada’s Best Managed list has been published by Deloitte every year since 1993, and the program is also sponsored by CIBC, National Post, Queen’s School of Business and Mackay CEO Forums.

Canadian Tire was not named to the list in 2012.