Canadian Tire Sells Helly Hansen Sportswear Business to Kontoor Brands
Canadian Tire Corp. says it has agreed to sell its Helly Hansen business to Kontoor Brands Inc. — which owns Wrangler, Lee and Rock & Republic — for 1.276 billion Canadian dollars.
Helly Hansen is a global brand that develops and designs high-performance products used by professionals and outdoor enthusiasts. Its apparel and gear is sold worldwide as well as in Canadian Tire, SportCheck and Mark’s stores in Canada.
The retailer says the transaction reflects its growing focus on its Canadian retail portfolio.
"As our strategy becomes more singularly focused on great Canadian retail, it is time to pass this iconic brand into global hands," Greg Hicks, president and CEO, Canadian Tire Corp., said in a media release. "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."
According to Canadian Tire, it expects to continue selling Helly Hansen products under a multi-year agreement with Kontoor Brands.
The transaction is expected to close in the second quarter of 2025.
