Canadian Tire Corporation has finalized the sale of its sportswear brand, Helly Hansen, to U.S.-based Kontoor Brands Inc. The transaction, valued at approximately $1.3 billion, was announced on Monday and marks a pivotal shift in Canadian Tire’s strategic direction.
Helly Hansen, renowned for its high-performance outdoor and sailing apparel, will now be under the umbrella of Kontoor Brands, the American company that owns iconic labels such as Wrangler, Lee, and Rock & Republic. Despite the change in ownership, Canadian consumers can expect to continue finding Helly Hansen products on Canadian Tire’s shelves.
“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 Canadian Tire CEO Greg Hicks in a February statement.
Strategic Refocus on Canadian Retail
The divestiture of Helly Hansen aligns with Canadian Tire’s renewed focus on its core Canadian retail operations. The proceeds from the sale are earmarked for a combination of debt reduction, share repurchases, and investments aimed at enhancing customer experience and driving growth within its primary retail business.
“As our strategy becomes more singularly focused on great Canadian retail, it is time to pass this iconic brand into global hands,” Hicks noted.
Acquisition of Hudson’s Bay Intellectual Property
In a parallel strategic move, Canadian Tire has acquired the intellectual property of the historic Hudson’s Bay Company (HBC) for $30 million CAD. This acquisition includes a vast array of trademarks, slogans, and digital assets that have been integral to Canadian retail heritage.
The deal encompasses the rights to the Hudson’s Bay name, its iconic multicoloured stripes, the historic coat of arms, and slogans such as “Bay Days” and “Lowest price is the law.” Additionally, Canadian Tire gains control over various private labels and digital domains associated with HBC.
This acquisition follows HBC’s filing for creditor protection under the Companies’ Creditors Arrangement Act in March 2025, leading to the liquidation of its retail operations. All 80 Hudson’s Bay stores, along with three Saks Fifth Avenue and 13 Saks OFF 5TH locations, ceased operations on June 1, 2025, resulting in over 8,300 job losses.
