Canadian Tire’s $1.28 billion sale of its outdoor apparel brand, Helly Hansen, to Kontoor Brands leads this week’s roundup of major deals. Legal counsel from Norton Rose Fulbright, Cassels, BD&P, Stikeman Elliott, and Torys have played key roles in the transaction.
Canadian Tire Corporation (CTC) has agreed to sell Helly Hansen to Kontoor Brands Inc., the parent company of Wrangler and Lee, in a deal valued at approximately $1.28 billion.
Norton Rose Fulbright Canada LLP is advising CTC, with Goldman Sachs & Co. LLC acting as the exclusive financial advisor.
For Kontoor, Foley & Lardner LLP is providing legal counsel, with Morgan Stanley & Co. LLC as their financial advisor.
“Our strategy is now more focused on Canadian retail, so it’s the right time to transition this iconic brand into global hands,” said CTC president and CEO Greg Hicks. “Over the past six years, we’ve taken great pride in stewarding Helly Hansen, expanding its global reach, boosting sales, and elevating brand awareness. This divestiture unlocks value for our company and shareholders.”
Kontoor Brands CEO Scott Baxter added, “Helly Hansen is a legendary brand known for its technical outdoor wear. This acquisition enhances our portfolio in the premium outdoor apparel segment, offering new opportunities for global growth.”
The deal is expected to close in the second quarter of 2025, pending regulatory approvals and customary closing conditions.
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