Toronto 
Canadian Tire Corporation has entered into a definitive agreement to acquire the intellectual property of Hudson’s Bay Company for $30 million. The deal includes the rights to the Hudson’s Bay name, its signature multicoloured stripes, historic coat of arms, and a range of associated brand trademarks.
Credit: Ted McGrath/Flickr/CC BY-NC-SA 2.0
The transaction, expected to close later this summer, is subject to court approval and standard closing conditions. It marks a significant moment in Canadian retail history as Hudson’s Bay, established in 1670, undergoes liquidation following a filing for creditor protection in March.
The company cited challenges such as pandemic recovery, reduced urban foot traffic, and international trade pressures as key factors in its financial collapse.
“Canadian Tire and the Hudson’s Bay Company are among the nation’s longest-standing companies, with a combined Canadian heritage measured in centuries. 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” said Greg Hicks, President and CEO, Canadian Tire Corporation in a news release.
Hicks described the acquisition of Hudson’s Bay brands as both a strategic business move and a patriotic act. He said it aligns with the company’s long-standing ties to Canadian life and supports its True North strategy.
“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. Ultimately, customers are at the core of all we do, and by Canadians’ reaction to recent rumours of this news, it is clear they see us as a great home for HBC’s heritage. We are proud to steward these iconic brands into our – and their – next century,” Hicks emphasized.
Per the news release, Canadian Tire’s bid focused solely on brand assets, but the company has also expressed interest in a limited number of former HBC lease locations. It has not confirmed whether these would be used to operate Bay stores or repurposed for other banners.
Hudson’s Bay’s remaining assets, including 39 leases and over 4,000 historical artifacts, are being considered for sale. Among the items is the royal charter that established the company in the 17th century.
