Canadian Tire to sell Helly Hansen to U.S. clothing brand

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********* Tire to sell Helly Hansen to U.S. clothing brand

By Tara Deschamps

The ********* Press

Posted February 19, 2025 10:03 am

1 min read

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********* Tire says it has signed an almost $1.3-billion deal to sell Helly Hansen to a U.S. owner of several clothing brands.

********* Tire says the agreement will see the sportswear company wind up in the hands of Kontoor Brands, which owns Wrangler, Lee and Rock & Republic.

********* Tire, which also owns SportChek and Mark’s, framed the ***** as a way for it to increase its focus on its ********* retail portfolio and unlock value for the company and shareholders alike.

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The Toronto-based retailer says the deal with Kontoor is expected to close in the second quarter of this year, but is subject to regulatory approvals and customary closing conditions, including a supply agreement.

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The multi-year supply deal will allow ********* Tire and its brands to continue to sell Helly Hansen products.

********* Tire bought Helly Hansen in 2018 through a $985-million deal with the Ontario Teachers’ Pension Fund, but the brand dates back to 1877, when sea captain Helly Juell Hansen enlisted his wife Margrethe to help him find a way to cope with Norwegian weather.

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