Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
Fresh St. Market in Vancouver. Image: Georgia Main Food Group
Forgetting a reusable shopping bag can be a frustrating experience for consumers, particularly as grocery stores phase out plastic options in favour of reusable and paper alternatives. While purchasing a paper bag may seem like an easy solution, the environmental toll is significant. Recognizing this, Georgia Main Food Group (GMFG) is introducing a first-of-its-kind initiative in Canada—the Borrow a Bag program—designed to make sustainable shopping easier and more accessible for consumers.
“We know our customers want to do the right thing when it comes to shopping sustainably and saving money, and after a successful pilot, we are proud to launch Canada’s first-ever Borrow a Bag program at IGA and Fresh St. Market stores in British Columbia,” said Tom Truchan, Director, Health & Food Safety, Sustainability & Logistics at GMFG.
Addressing the Environmental Impact of Paper Bags
Despite the push toward sustainability, many consumers still rely on paper bags as a fallback option when they forget their reusable ones. However, paper bag production is far from environmentally friendly.
“It takes one mature tree to produce 700 paper bags, and when we do the math, we are selling the paper bag equivalent of more than 3,000 trees each year in our stores,” explained Truchan. “We knew we had to think differently to reduce our reliance on paper and elevate our approach to reusable bags.”
The Borrow a Bag program is a circular system that allows customers to take home a reusable bag for a refundable deposit of $2.99. Once they no longer need the bag, they can return it to any participating store to reclaim their deposit. The returned bags are then laundered and put back into circulation for further customer use, reducing waste and promoting sustainability.
Tom Truchan, Director, Health & Food Safety, Sustainability & Logistics, Georgia Main Food Group with the new Borrow a Bag program offered at Fresh St. Market and IGA stores in British Columbia.
How Borrow a Bag Works
The program has been designed with convenience in mind, ensuring customers don’t have to worry about accumulating too many reusable bags or resorting to single-use paper options.
“Many households have an overabundance of reusable bags that have accumulated over time, while other customers opt for ‘single-use’ paper bags that have significant environmental impacts,” said Truchan. “Now at IGA and Fresh St. Market, customers don’t have to worry about forgetting their bag at home. Even if they collect several Borrow a Bags, they can return them at any time to get their $2.99 deposit back.”
The concept was tested in select IGA locations in Coquitlam and Surrey throughout 2023 and 2024. The success of this pilot program prompted GMFG to expand it to the majority of its stores in British Columbia in 2025.
Positive Feedback from Customers and Staff
Since its introduction, the Borrow a Bag program has received widespread support from both customers and staff, who appreciate the simplicity and practicality of the initiative.
“We have heard excellent early feedback from staff and customers in our pilot locations,” said Truchan. “With the widespread rollout of Borrow a Bag, customers shopping at IGA and Fresh St. Market should never have to purchase a new reusable or paper bag again.”
About Georgia Main Food Group (GMFG)
Founded in 1903 at Georgia and Main streets in Vancouver, Georgia Main Food Group is a proudly Canadian, family-owned company with deep roots in British Columbia’s grocery industry. With over 120 years of history, GMFG operates 21 IGA locations, eight Fresh St. Market stores, and recently opened its first Asian grocery store, Meiga Supermarket, in Port Moody.
Rendering of the Rideau Street entrance to Live Nation’s History Ottawa. Image: Live Nation Canada
Live Nation Canada has officially named its new music and entertainment venue in downtown Ottawa. The company, which announced in June 2024 that it would be leasing the former Chapters bookstore space at 47-57 Rideau Street from the National Capital Commission (NCC), will open the 60,000-square-foot venue under the “History Ottawa” banner. The space, currently under construction, is expected to open its doors in early 2026.
“History Ottawa” will be a two-level venue with a capacity of 2,000 people. The flexible design will accommodate both general admission and reserved seating configurations, allowing for a diverse range of performances. Live Nation aims to create a premier destination for concerts, comedy acts, and other live entertainment in the nation’s capital.
Rendering of the interior of Live Nation’s History Ottawa. Image: Live Nation Canada
A Strategic Location in Ottawa’s Cultural Hub
The new venue is situated in a prime location near some of Ottawa’s most significant cultural institutions. The National Arts Centre on Elgin Street and the National Gallery of Canada on Sussex Drive are both within walking distance, reinforcing the area’s reputation as a hub for the arts. Parliament Hill is also nearby, and the ByWard Market, a tourism and nightlife district, is just steps away.
Live Nation’s expansion into Ottawa aligns with ongoing efforts to revitalize the downtown core, particularly the ByWard Market district, which has seen increasing investment in recent years. NCC CEO Tobi Nussbaum acknowledged the challenges in securing a tenant for the space, but noted that the addition of “History Ottawa” represents a major step in rejuvenating the area.
A rendering of Live Nation’s History Ottawa, which is set to open in early 2026. Image: Live Nation Canada
Live Nation’s History Brand Expands Beyond Toronto
Live Nation introduced the “History” brand in 2021 with the opening of a 2,500-person venue in Toronto’s Beaches neighbourhood. Developed in collaboration with Canadian rapper Drake, the venue has become a key part of Toronto’s live music scene, hosting an array of high-profile performances. The expansion of the brand to Ottawa signals Live Nation’s confidence in the city’s demand for a mid-sized concert venue.
Currently, Ottawa’s live music scene is dominated by smaller clubs and larger venues such as the Canadian Tire Centre, home to the Ottawa Senators. “History Ottawa” will provide a much-needed mid-sized option, catering to artists and audiences seeking an intimate yet large-scale experience.
A rendering of Live Nation’s History Ottawa, which is set to open in early 2026. Image: Live Nation Canada
The Evolution of 47 Rideau Street: From Chapters to Live Music
The building at 47 Rideau Street has a long history in Ottawa’s retail landscape. Chapters occupied the space for more than two decades, from 1996 until its closure in 2022. The closure was part of Indigo Books & Music Inc.’s broader strategy to modernize its retail footprint, leading to a relocation within CF Rideau Centre. The new Indigo store, which opened in the fall of 2022, features a curated selection of books alongside a growing range of lifestyle products, reflecting the company’s evolving business model.
Public response to the relocation has been mixed. While some customers appreciate the convenience of the new CF Rideau Centre location, others have expressed disappointment over the reduced book selection and an increased focus on general merchandise. Online discussions, particularly on platforms like Reddit, highlight concerns about the smaller browsing space and the shift in Indigo’s merchandising approach.
Introducing iPhone 16e, the most affordable member of the iPhone 16 family. Photo: Apple.
Apple has expanded its iPhone 16 lineup with the debut of the iPhone 16e — a new model offering high-end features at a more accessible price point for Canadian consumers. Launching on February 28 with pre-orders beginning February 21, the iPhone 16e enters the market at $899 (CAD), positioning itself as a feature-rich option backed by Apple Intelligence and the company’s latest silicon.
The new iPhone retains many of the core capabilities found in the flagship iPhone 16 models, including the A18 chip, advanced machine learning support, and a new 48MP 2-in-1 camera system. It’s also the first iPhone to include Apple’s proprietary C1 modem, delivering 5G performance while boosting battery efficiency.
“iPhone 16e packs in the features our users love… and completes the lineup as a powerful, more affordable option,” said Kaiann Drance, Apple’s VP of Worldwide iPhone Product Marketing.
A Focus on AI and Performance
The A18 chip enables full support for Apple Intelligence — Apple’s new suite of on-device and cloud-based AI features — including visual search, Writing Tools, Siri enhancements, and access to integrated ChatGPT. Users can interact with Apple Intelligence via text or voice, with privacy-focused protections like on-device processing and Private Cloud Compute handling sensitive data.
Performance-wise, the 6-core CPU is up to 80% faster than that of the iPhone 11, and the new 4-core GPU supports hardware-accelerated ray tracing. Apple says these improvements open the door to console-level mobile gaming and faster photo and video editing.
Design, Battery Life, and Action Button
Offered in black and white with optional colourful silicone cases, the iPhone 16e features a 6.1-inch Super Retina XDR OLED display, ceramic shield glass, and an IP68 rating for water and dust resistance. The device delivers the best battery life of any 6.1-inch iPhone to date, lasting up to 12 hours longer than earlier iPhone SE models.
It also includes an Action Button — first seen on Apple’s premium models — allowing for customizable shortcuts, app functions, and a new “visual intelligence” experience that can identify plants, translate text, and recognize objects directly through the camera interface.
Camera and Safety Features
The iPhone 16e’s 48MP rear camera captures high-resolution photos and supports optical zoom via a built-in 2x Telephoto lens. Dolby Vision 4K video recording at up to 60 fps is supported, along with spatial audio capture. For content creators, new audio tools allow users to isolate voice tracks, simulate studio effects, and reduce wind noise.
The device retains key safety features including Crash Detection and Apple’s expanding suite of satellite capabilities. Users can send messages, share locations, or trigger Emergency SOS via satellite when out of range of traditional networks.
Canadian Availability and Environmental Focus
Available in 128GB, 256GB, and 512GB variants, the iPhone 16e supports Apple’s Trade-In program, with up to $220 (CAD) in credit for older devices. Apple also touts the model’s environmental credentials: over 30% of its materials are recycled, and packaging is fully fibre-based.
The iPhone 16e is part of Apple’s broader push to make AI and flagship performance more accessible, as it prepares to expand Apple Intelligence into new languages — including Canadian French — starting in April.
Rendering of the new Marella storefront at CF Pacific Centre in Vancouver. Image supplied by Vestis Fashion Group
Vestis Fashion Group is bringing two renowned Italian fashion brands, Marella and Max&Co., to Canada with the opening of their first North American stores in Vancouver in March. The stores will be located at CF Pacific Centre, marking a milestone for the luxury retail operator and expanding its portfolio under the Max Mara umbrella.
Harriet Guadagnuolo, Vice President of Retail at Vestis Fashion Group, noted that these will be the first dedicated storefronts for Marella and Max&Co. in North America. Marella and Max&Co. both cater to a contemporary price point, filling a gap in Vancouver’s fashion market. According to Guadagnuolo, the brands will provide an elegant yet accessible wardrobe option that has been lacking in the city.
Harriet Guadagnuolo, Vice President of Retail at Vestis Fashion Group
“We have a lot of offerings in leisure, we have a lot of offerings at this price point, but when it comes to a little bit more dressed up, taking that everyday and just elevating it with a European vibe, we don’t have a lot of options,” she said. “These brands were an answer to that.”
Prime Location at CF Pacific Centre
The stores will be situated on the upper level of CF Pacific Centre, next to the flagship Apple Store and directly across from Aritzia and Vestis Fashion Group’s existing Max Mara location. Together, the two new retail spaces will span 1,746 square feet.
The opening marks a return to a historic location for Vestis Fashion Group, as Max Mara previously occupied the same space at CF Pacific Centre years ago. The decision to reintroduce these new brands in this location reflects the company’s longstanding presence in the Vancouver retail market.
The lease deal was negotiated by Mario Negris and Martin Moriarty of Marcus & Millichap Canada on behalf of Vestis Fashion Group, while Cadillac Fairview is the landlord for CF Pacific Centre.
Construction hoarding for the new Marella and Max&Co. storefronts at CF Pacific Centre in Vancouver. Photo: Martin Moriarty
Distinctive Store Designs Reflecting Each Brand
Each boutique will feature a design that encapsulates the identity of its respective brand.
“Marella is really that kind of feminine and sophisticated approach to dressing,” said Guadagnuolo. “Max&Co. is a little bit more street style, a little bit edgier. You’ll see more technical fabrics, a little bit more nylon, and interesting elevated basics.”
The Marella store will feature a green marble backsplash at the cash desk, rose gold accents, and bright white elements, reinforcing its sophisticated aesthetic. Max&Co., on the other hand, will have bold red accents, including red countertops and herringbone flooring, staying true to the brand’s signature colour.
Rendering of the new Max&Co. at CF Pacific Centre in Vancouver. Image supplied by Vestis Fashion GroupRendering of the new Marella at CF Pacific Centre in Vancouver. Image supplied by Vestis Fashion Group
Vancouver’s Downtown Core Still Thriving for Retail
The choice of CF Pacific Centre for these openings underscores the confidence in downtown Vancouver’s retail market, despite recent challenges in urban retail landscapes.
“Downtown is still the core of the Vancouver retail industry,” said Guadagnuolo. “We’ve seen great success with Max Mara, and it remains the fashion capital of the Vancouver area. We’ve got great traffic and a diverse mix of people coming through, including tourists.”
Future Expansion Possibilities
With Oakridge Park’s redevelopment expected to become a major retail hub in Vancouver, Vestis Fashion Group is considering additional locations in the future. However, for now, the focus is on the CF Pacific Centre stores.
“Something that we’ve thought about for sure,” said Guadagnuolo. “Right now, we are just launching with CF Pacific Centre and taking it step by step to see how the market reacts.”
Beyond Vancouver, expansion into other Canadian markets, including Ontario, is also on the table. Vestis Fashion Group has previously operated in the United States, with Max Mara locations in Seattle and San Francisco.
“We’ve had stores in other markets before, and it’s certainly something to think about,” Guadagnuolo noted. “For now, our strength is really being on the ground in our local market, understanding our clientele, and expanding strategically.”
Max Mara at CF Pacific Centre. Photo: Cadillac Fairview
Generational Shift in Luxury Retail
Vestis Fashion Group, founded in 1985 by Catherine Guadagnuolo, has played a pioneering role in bringing Max Mara to North America. The company currently operates a Max Mara flagship store on Granville Street, along with Max Mara and Weekend Max Mara locations at CF Pacific Centre and Weekend by Max Mara at Metropolis at Metrotown.
“My mom brought Max Mara as a license to North America—she opened the first Max Mara stores here,” said Guadagnuolo. “This is kind of full circle for us because now we’re opening the first Max&Co. and Marella stores. It’s a generational shift and an exciting new era for our business.”
Newcomer entrepreneurs—those who have been in Canada for less than a decade—own more than 7% of enterprises in the country but face distinct challenges that impact their growth and integration, according to a new report released Wednesday by the Canadian Federation of Independent Business (CFIB).
“It takes a lot of courage and resilience to move to another country and open a business,” said Marvin Cruz, CFIB’s director of research and report co-author. “Newcomer entrepreneurs play a crucial role in enhancing the Canadian business landscape and economy by bringing in diverse perspectives and skills.”
Key Challenges for Newcomer Entrepreneurs
According to the CFIB report, the most significant obstacles for newcomer entrepreneurs include:
Securing financing, given their limited credit history in Canada
Navigating government regulations and compliance
Building trust and networks in the business community
Overcoming cultural and communication barriers
Accessing information and resources critical to business operations
Despite these challenges, many newcomers choose to start businesses in Canada due to their previous entrepreneurial experience, access to market opportunities, Canada’s strategic location, autonomy and financial success, and the country’s high quality of life and safety, said the national organization.
Francesca Basta
“As Canada navigates economic challenges, including Canada-U.S. trade tensions, strengthening entrepreneurship is more important than ever. To enhance Canada’s productivity and global competitiveness, it’s essential that all entrepreneurs, including newcomers, are set up for success. That’s why it’s important for policymakers and financial institutions to provide better and ongoing support to Canada’s newcomers in their entrepreneurial journeys,” said Francesca Basta, CFIB’s research analyst and report co-author.
CFIB’s Recommendations
CFIB urges policymakers to take the following steps to support newcomer entrepreneurs:
Increase awareness of existing government grants and support programs
Develop an accessible, centralized platform for key business information such as tax rules, labour laws, and licensing requirements
Simplify regulatory compliance and enhance customer service
Expand immigration options for foreign entrepreneurs
Support and promote newcomer organizations and settlement agencies
The CFIB said financial institutions can also play a role by promoting mentorship programs and financial literacy resources, improving access to capital, and streamlining banking setup processes for newcomer business owners.
“There’s immense potential to build a stronger foundation for newcomer entrepreneurs, and when that happens, the benefits will ripple down through the entire business ecosystem,” said one entrepreneur interviewed in the CFIB report.
Vancouver-based Livingspace Interiors has announced a significant expansion of its business with the acquisition of Brougham Outdoor and Kerrisdale Lumber Home’s Outdoor Kitchen division. These two well-established Vancouver businesses will now operate under Livingspace Outdoor, a dedicated showroom offering a premium selection of outdoor living products.
This strategic move strengthens Livingspace’s presence in the high-end outdoor furniture and appliance market and also ensures continuity for long-standing customers of Brougham Outdoor and Kerrisdale Lumber Home.
A Legacy of Design: Brougham Outdoor Joins Livingspace
Brougham Outdoor, a staple in Vancouver’s design community for over 40 years, is now officially part of Livingspace Outdoor. With the retirement of Brougham Outdoor’s owners, Mark and Rex Panther, Livingspace has assumed control of the business, rebranding its Olympic Village showroom while retaining its expert staff.
Ross Bonetti, founder and owner of Livingspace Interiors
“Their legacy in outdoor furniture and design excellence is undeniable,” said Ross Bonetti, founder and owner of Livingspace Interiors. “We’re thrilled to integrate their expertise and relationships with our growing brand. Customers can expect the same great service, just under the Livingspace umbrella.”
This acquisition ensures a seamless transition for existing customers, while also expanding Livingspace’s reach in the outdoor living sector.
Kerrisdale Lumber Home’s Outdoor Kitchen Division Joins the Fold
In addition to Brougham Outdoor, Livingspace has acquired Kerrisdale Lumber Home’s Outdoor Kitchen business, a leading supplier of premium outdoor kitchen solutions. Mark Perry, the owner of Kerrisdale Lumber Home, and his son Lyle, who has taken over the family business, made the decision to refocus on their core lumber and building supply operations.
“This transition allows us to return to our roots while ensuring that our valued outdoor kitchen customers remain in capable hands,” said Perry. “Livingspace’s expertise in high-end home design makes them the perfect fit to carry on our legacy.”
Kerrisdale Lumber Home, a multi-generational Vancouver business dating back to 1921, has been a trusted name in the industry. The move allows the company to strengthen its primary business, while Livingspace Outdoor expands its range of premium outdoor kitchens and appliances.
The Livingspace team. Image supplied
Expanding the Outdoor Living Experience
With these acquisitions, Livingspace Outdoor now offers a curated selection of high-end outdoor kitchens, BBQs, appliances, furniture, and heating solutions. Customers will find top brands like Wolf, Kalamazoo, Hestan, Danver, Gloster, Dedon, Tuuci, and Bromic.
“Our goal is to redefine outdoor living by combining form and function,” Bonetti said. “Whether it’s an entire outdoor kitchen or stylish furniture, we provide comprehensive solutions that elevate the way people experience their outdoor spaces.”
A Seamless Transition with Retained Expertise
A crucial component of the acquisitions was maintaining the experienced staff from both businesses to ensure consistency in service.
“We’ve retained the knowledgeable teams from both Brougham and Kerrisdale Lumber Home’s outdoor division,” Bonetti said. “These employees have built long-standing relationships with customers, designers, and builders. Their expertise is invaluable, and we wanted to ensure continuity.”
Reza, a long-time expert from Kerrisdale Lumber Home, has joined the Livingspace team and is well-known in the industry as a top authority in outdoor cooking and appliances.
The acquisitions have been met with enthusiasm from the design and architecture community.
“Architects and designers are excited about a dedicated outdoor showroom,” Bonetti shared. “It’s a natural evolution, given the growth of the outdoor living market.”
To showcase the expanded offerings, Livingspace Outdoor hosted an exclusive event featuring live cooking demonstrations with premium outdoor kitchen appliances. “We had a group of landscape architects visit, and they were thrilled to see the new space,” Bonetti noted. “It’s all about creating an immersive experience.”
The Future of Livingspace Outdoor
Livingspace, founded in 1988, has long been Vancouver’s go-to destination for modern luxury home design. The flagship showroom, spanning 30,000 square feet in the city’s Armoury District, features exclusive collections of Italian furniture, kitchens, closets, and lighting.
“We see outdoor living as a growing category,” Bonetti said. “More homeowners are investing in their outdoor spaces, whether for entertaining, cooking, or relaxation. With these acquisitions, we are well-positioned to be the leader in this space.”
Expansion and E-Commerce Growth
While Livingspace remains primarily focused on the Vancouver market, its growing e-commerce platform allows customers across Canada to purchase high-end furniture and outdoor living solutions.
“We ship directly to customers nationwide,” Bonetti explained. “For recognizable brands like Herman Miller, Minotti, and Dedon, online sales continue to grow.”
The online store is also set to include the newly acquired outdoor kitchen and furniture brands, with full integration expected by the end of February.
Shoppers Foundation for Women’s Health announces agreement with the Manitoba Government to support families of Missing and Murdered Indigenous Women, Girls, and 2Spirit Peoples (MMIWG2S+) (CNW Group/Shoppers Foundation for Women's Health)
Shoppers Foundation for Women’s Health has pledged a landmark $10 million donation to the Manitoba Government’s newly established MMIWG2S+ Healing and Empowerment Fund. This commitment will provide ongoing, accessible healing programs for families and children affected by Missing and Murdered Indigenous Women, Girls, and Two-Spirit Peoples (MMIWG2S+), according to a news release.
The endowment fund, held by The Winnipeg Foundation, is a key initiative within Mino’Ayaawag Ikwewag (“All Women Doing Well”), Manitoba’s provincial strategy dedicated to the safety, protection, and empowerment of Indigenous women, girls, Two-Spirit, and gender-diverse individuals. Established in May 2024 with an initial $15 million investment from the Manitoba Government, the fund responds to the National Inquiry into Missing and Murdered Indigenous Women and Girls’ 231 Calls to Justice.
“Thanks to the leadership of the Government of Manitoba and the ongoing work of community partners, we are proud to play a role in advancing a more sustained approach to healing and empowerment for Indigenous women, girls, and 2Spirit peoples across the province.”
The $10 million donation will be distributed over five years, with an initial $6 million investment in 2025. The fund will support culturally responsive and trauma-informed initiatives to assist affected families, ensuring long-term stability and resources for those impacted by the ongoing crisis of MMIWG2S+, said the Foundation.
“Every one of us has a role to play in building a better future for Indigenous women, girls and 2Spirit peoples,” said Nahanni Fontaine, Minister responsible for women and gender equity. “This significant commitment extended by Shoppers Foundation for Women’s Health is an example of how corporations and their charitable efforts can contribute to ending violence, racism and discrimination against Indigenous women, girls, Two-Spirit and gender diverse people and action reconciliation with real, tangible support.”
Shoppers Foundation for Women’s Health is the charitable arm of Shoppers Drug Mart and is dedicated to addressing health inequities affecting Canadian women. The Foundation has committed to investing $50 million by 2026 to enhance access to healthcare, representation in health research, and support for women facing poverty and domestic violence. More information can be found at shoppersfoundation.ca.
Shoppers Drug Mart Inc. is one of Canada’s most recognized retail brands, operating over 1,350 pharmacies nationwide. The company also provides specialty drug distribution, long-term care pharmacy services, and rehabilitation services through its subsidiary networks. Shoppers Drug Mart is an independent operating division of Loblaw Companies Limited.
Loblaw Companies Limited Head Office (Image: Loblaw)
Loblaw Companies Limited announced Wednesday it will invest $2.2 billion into the Canadian economy in 2025.
This investment will help the Company improve access to more affordable food and healthcare services for Canadians, while creating an anticipated 8,000 jobs in communities across the country, it said in a news release.
“The investment reinforces Loblaw’s position as a major contributor to the growth of the Canadian economy. The Company anticipates similar levels of investment over the next five years – to invest more than $10 billion by 2030 – adding to the more than $8 billion the Company has invested since 2020 to improve and expand its network of stores and modernize its supply chain, it said.
The Company’s 2025 planned investments include:
80 new stores under the No Frills, Maxi, Shoppers Drug Mart, Pharmaprix and T&T banners, including approximately 50 hard discount stores;
the renovation of more than 300 grocery and pharmacy locations, including adding approximately 100 new Shoppers Drug Mart pharmacy care clinics; and
the continued development of the Company’s modernized supply chain, including the initial opening of the 1.2 million square foot facility in East Gwillimbury, Ontario.
Per Bank
“At a time when Canadians need value the most, we’re continuing to invest meaningfully in the Canadian economy and in delivering value to our customers,” said Per Bank, President and CEO, Loblaw Companies Limited. “From opening one of the largest fully automated distribution centres in North America, to introducing dozens of small format hard discount stores to communities that need them most, this investment will have a positive impact across the country.
“As a proudly Canadian owned and operated business, we’ll also work to showcase Canadian-made value and quality across our entire network. Whether it’s increasing orders for products made in Canada or further broadening our Small Supplier program, we’re committed to home-grown success.”
Loblaw Companies Limited is Canada’s food and pharmacy leader, as well as its largest retailer and private sector employer with more than 220,000 colleagues across the country. With over 1 billion transactions each year in its unmatched network of 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada’s favourite and most-trusted brands: President’s Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial. The Company’s loyalty program, PC Optimum, has more than 16 million active members and is one of Canada’s largest and best-loved reward programs.
Canadian Tire announced Wednesday that it has signed a definitive agreement to sell its Helly Hansen business to Kontoor Brands, Inc. for total gross proceeds of $1.276 billion, subject to closing adjustments. The transaction reflects CTC’s increasing focus on its Canadian retail portfolio, said the company in a news release.
Helly Hansen is an iconic global brand which designs and develops products used by professionals and outdoor enthusiasts around the world. Its high-performance apparel and gear are sold worldwide, including in Canadian Tire, SportChek and Mark’s stores in Canada, it said.
“For six years, we have been proud stewards of Helly Hansen, expanding its popularity and foothold into more parts of the world – increasing sales, brand awareness and elevating value in the process. This divestiture unlocks that value for our company and shareholders.”
Canadian Tire and Kontoor anticipate a smooth transition for employees, customers and partners, said the news release.
“As we shift from brand owner to brand customer, we expect Helly Hansen’s world-class products to remain on our shelves and on the shopping lists of our customers. We are excited to see where Kontoor takes the brand next,” said Hicks. “We thank the Helly Hansen team and leaders for their exceptional work, and for sharing great lessons in sourcing, brand design, and high-performance products with our CTC experts.”
Use of proceeds
Canadian Tire said it intends to adopt a balanced approach to the allocation of the transaction proceeds, consistent with its past practice. Proceeds are expected to be deployed to a combination of debt reduction, share repurchases, as well as investments to drive customer experience and growth in its core Canadian retail business. The proceeds will also provide CTC with additional flexibility for general corporate purposes, including to address market uncertainty. Further details will be communicated in a CTC strategic update, to be published March 6, 2025.
Transaction details
CTC has agreed to sell the company that owns and operates the Helly Hansen brands and related businesses. In conjunction with the transaction, CTC also expects to continue to sell Helly Hansen products in its banners under a multi-year supply agreement with Kontoor Brands.
It expects the transaction to close in the second quarter of 2025, subject to receiving all regulatory approvals and other customary closing conditions as well as the signing of the supply agreement between the two parties.
Total purchase price is $1.276 billion, subject to closing adjustments.
Helly Hansen worldwide revenue in 2024 was $894 million, including sales to CTC. 2024 EBITDA was $102 million on a Canadian IFRS basis. 2024 adjusted EBITDA was $76 million under the pre-IFRS 16 accounting standard employed by CTC at the time of the Helly Hansen acquisition.
Goldman Sachs & Co. LLC is serving as Canadian Tire Corporation’s exclusive financial advisor and Norton Rose Fulbright Canada LLP as its legal advisor.
Canadian Tire’s 2018 Acquisition of Helly Hansen: A Strategic Expansion into Global Outdoor Retail
In May 2018, Canadian Tire Corporation announced its agreement to acquire Helly Hansen. The strategic move aimed to enhance Canadian ’Tire’s owned brand portfolio and bolster its presence in the outdoor and workwear sectors. The acquisition was finalized in July 2018.
The transaction involved Canadian Tire Corporation purchasing the company that owns and operates the Helly Hansen brands and related businesses for $985 million CAD, while assuming approximately $50 million CAD of operating debt, net of cash. The acquisition was expected to be immediately accretive to Canadian Tire Corporation’s earnings per share (EPS), earnings before interest, taxes, depreciation, and amortization (EBITDA), and cash flow, even before realizing potential synergies.
Following the acquisition, Helly Hansen’s CEO, Paul Stoneham, and the existing management team continued to lead the business from Oslo, reporting to CTC’s Executive Vice President. This continuity aimed to preserve Helly Hansen’s brand identity and operational expertise while benefiting from CTC’s financial strength and retail network.
About Canadian Tire Corporation and Helly Hansen
Canadian Tire Corporation, Limited is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. The retail business is led by Canadian Tire, which was founded in 1922. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands. It has close to 1,700 retail and gasoline outlets and CTC’s Financial Services division.
Helly Hansen is a globally recognized leader in premium outdoor and lifestyle apparel and footwear, with deep expertise in technical performance apparel in ski, sailing, and workwear. Helly Hansen’s family of brands and trademarks are sold in more than 40 countries around the world and include Helly Hansen, Helly Hansen Workwear, and Musto. Founded in Norway in 1877, Helly Hansen continues to develop professional grade apparel that helps people stay and feel alive. Through insights drawn from living and working in the world’s harshest environments, the company has developed a long list of first-to-market innovations, including the first supple waterproof fabrics nearly 150 years ago.
