Canadian Tire Sells Helly Hansen
The Canadian Tire Corporation announced this week that it is selling Helly Hansen (Founded in Norway in 1877) to U.S. firm, Kontoor Brands. 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.
“As our strategy becomes more singularly focused on great Canadian retail, it is time to pass this iconic brand into global hands. 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 Corporation expects to continue to sell Helly Hansen products in their various stores under a multi-year supply agreement with Kontoor Brands. Kontoor Brands also owns popular clothing brands such as Wrangler, Lee and Rock & Republic.
Evan Holt
