Canadian Tire to acquire Hudson’s Bay Company brand assets for $30M

Canadian Tire Corp. has reached a definitive agreement to acquire the intellectual property of the Hudson’s Bay Company, including iconic Canadian trademarks such as the HBC Stripes, company logos, designs and the historic coat of arms.

“Canadian Tire and the Hudson’s Bay Company are among the nation’s longest-standing companies, with a combined Canadian heritage measured in centuries,” said Greg Hicks, president and CEO of Canadian Tire, in a statement. “Some things are just meant to stay Canadian and we are honoured to welcome many of HBC’s leading brands – including the iconic HBC coat of arms and the Stripes – into our Canadian Tire family.”

Hicks called the acquisition both “strategic” and “patriotic,” noting it aligns with the company’s new True North strategy and expands its portfolio of owned brands.

“It’s disheartening to witness the final days of another great Canadian retailer, and while the circumstances are unfortunate, we’re proud to step in for customers,” he said. “We are proud to steward these iconic brands into our – and their – next century.”

The $30-million deal is subject to court approval and other customary conditions. Canadian Tire has also placed separate bids on a handful of HBC lease locations. The transaction is expected to close later this summer.