Canadian Tire Corporation sells Helly Hansen apparel brand
Published on: Feb 24, 2025
The company sold the business to Kontoor Brands to simplify its portfolio and focus on Canadian retail growth.
Canadian Tire Corporation announced that it has signed a definitive agreement to sell its Helly Hansen apparel business to Kontoor Brands.
The $1,276 million transaction reflects the company's increasing focus on its Canadian retail portfolio. Helly Hansen is a global brand that designs and develops products used by professionals and outdoor enthusiasts around the world.
The brand’s high-performance apparel and gear are sold worldwide, including in Canadian Tire, SportChek and Mark's stores in Canada.
"As our strategy becomes more singularly focused on great Canadian retail, it is time to pass this iconic brand into global hands. This divestiture unlocks that value for our company and shareholders,” said Greg Hicks, President and CEO of Canadian Tire Corporation.
Founded in Norway in 1877, Helly Hansen continues to develop professional grade apparel through insights drawn from living and working in the world's harshest environments.
Canadian Tire expects the transaction to close in the second quarter of 2025, subject to receiving all regulatory approvals and other customary closing conditions alongside supply agreement between the two parties.
