On February 19, 2025, Canadian Tire Corporation (TSX: CTC) announced the sale of Helly Hansen to Kontoor Brands (NYSE: KTB) for $1.276 billion, aligning with its strategy to focus on Canadian retail. Helly Hansen, a global outdoor apparel brand, saw significant growth under CTC’s ownership. As part of the deal, CTC will continue selling Helly Hansen products through a multi-year supply agreement. Proceeds from the sale will be used for debt reduction, share repurchases, and investments in CTC’s retail business. The transaction is expected to close in Q2 2025, subject to regulatory approvals.

Goldman Sachs & Co. LLC advised CTC, with Norton Rose Fulbright Canada LLP as legal counsel. Morgan Stanley & Co. LLC advised Kontoor Brands, with Foley & Lardner LLP as legal counsel.