In a landmark move to preserve one of Canada’s oldest and most iconic brands, Canadian Tire Corporation announced Thursday it will acquire the Hudson’s Bay Company’s intellectual property for $30 million, breathing new life into the struggling 355-year-old legacy retailer.
The deal includes the full Hudson’s Bay brand, its recognizable multicoloured stripes motif, its historic coat of arms, and a suite of trademarked names long associated with Canadian heritage and retail history. Also part of the acquisition are popular houseware and apparel brands including Gluckstein Home, Distinctly Home, and Hudson North.
The sale, which is expected to close this summer pending court approval, will allow Canadian Tire to integrate the Bay’s brands across its 1,700-store network, including SportChek, Mark’s, Party City, and Pro Hockey Life. It marks a symbolic transfer of one of Canada’s most enduring retail institutions to another homegrown chain with a strong national footprint.
“This is about more than business,” said Canadian Tire CEO Greg Hicks in a statement. “It’s about preserving something truly Canadian. We are honoured to become stewards of the HBC stripes, the coat of arms, and everything they represent.”
Hudson’s Bay CEO Liz Rodbell echoed the sentiment, expressing confidence that Canadian Tire would protect and promote the company’s rich legacy. “They represent what Canadians value — authenticity, trust, and resilience,” she said. “I have no doubt these iconic brands are in good hands.”
The agreement follows Hudson’s Bay’s filing for creditor protection in March, as the company struggled to recover from the pandemic, declining foot traffic in urban centres, and economic strains from ongoing trade tensions. Unable to secure financing to sustain its 80 Bay department stores and 16 Saks locations, the company began liquidating assets and fielding offers for its brands, leases, and historic collection of artifacts.
In total, 17 bids were received for various pieces of the business. Canadian Tire’s winning proposal focused on the intellectual property and a select number of store leases, though it remains unclear whether those spaces will retain the Hudson’s Bay name or be converted for other Canadian Tire-owned banners.
The Hudson’s Bay stripes, a symbol dating back to 1779, are among the most valuable brand assets in the transaction. Originally found on blankets and trading goods, the iconic green, red, yellow, and indigo bands have since adorned everything from outerwear to patio furniture — all categories Canadian Tire already sells.
Canadian Tire’s acquisition is fueled in part by a recent strategic windfall: the company’s $1.3 billion sale of Helly Hansen to U.S.-based Kontoor Brands earlier this year freed up capital to pursue major investments. Hicks said on a recent earnings call that while acquiring Hudson’s Bay’s full operations didn’t align with Canadian Tire’s current strategy, the brand assets were a natural fit.
As the Bay brand moves under new ownership, its vast retail leases remain up for grabs. Court filings reveal that 12 bidders are vying for 39 lease locations, with some overlap between interested parties. These properties, situated in prime Canadian retail zones, may be repurposed by Canadian Tire or others.
Beyond retail, Hudson’s Bay is also preparing to auction off 4,400 pieces of historic art and artifacts, including the 1670 royal charter that formally established the company. The auction will be managed by Heffel Gallery, adding another chapter to the historic dismantling of one of Canada’s oldest corporations.
Founded as a fur trading empire and once the de facto governing body of vast swaths of Canadian territory, Hudson’s Bay Company evolved over centuries into a trusted department store for generations of Canadians. Now, its most treasured elements are being passed on — not to history, but to a fellow Canadian retail icon ready to carry the legacy forward.