Canadian Tire Sells Helly Hansen to Kontoor Brands for $900 Million

The sale aims to refocus Canadian Tire's strategy on domestic retail, while Kontoor plans to expand Helly Hansen globally.

Canadian Tire Corporation has sold its Helly Hansen brand to Kontoor Brands for $900 million in cash and new debt.
The sale allows Canadian Tire to pay down debt, repurchase shares, and invest in its Canadian retail operations amidst economic uncertainty.
Kontoor Brands, owner of Wrangler and Lee, plans to leverage its global platform to scale Helly Hansen's presence in outdoor and workwear markets.
Helly Hansen, originally acquired by Canadian Tire in 2018, has seen significant revenue growth but lower profit margins compared to global peers.
The transaction is expected to close by the end of June 2025, with Kontoor financing the deal through a mix of cash and new debt.