18-05-2025
Hudson's Bay to sell brand assets to Canadian Tire
Hudson's Bay announced on Thursday a definitive agreement to sell its intellectual property portfolio, including the iconic HBC Stripes and related brand assets, to Canadian Tire Corporation.
The $30 million transaction, expected to close in the summer of 2025 pending court approval, marks a defining moment in Canadian retail as one storied heritage brand passes the torch to another.
'We are grateful that the HBC brand has found a home with another heritage retailer that encapsulates the uniquely authentic Canadian experience,' said Liz Rodbell, president and CEO, Hudson's Bay.
'I have no doubt they will be strong stewards of the more than 350-year HBC legacy as they move our iconic brands forward.'
Canadian Tire will sell the products under this deal at its 1,700 stores, which operate under its SportChek, Party City, Mark's and Pro Hockey Life banners.
Hudson's Bay sought creditor protection in March, initiating a sale process and beginning liquidation of all of its 79 stores across Canada. All Hudson's Bay and Saks Fifth Avenue stores in Canada are expected to cease operations no later than June 15.
