Canadian Tire to sell Helly Hansen business to Kontoor Brands for $901 million
February 19, 2025
Canadian Tire opens new tab said on Wednesday it would sell its premium workwear business Helly Hansen to Kontoor Brands opens new tab for C$1.28 billion ($901.2 million), as part of efforts to focus on its core business. The transaction is expected to close in the second quarter, the company said. Canadian Tire expects to continue selling Helly Hansen products under a multi-year supply agreement.
The company expects to use the deal proceeds for share repurchases, to cut debt and to drive growth in its core Canadian retail business. Reuters
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